Recurring Deposit
Recurring Deposit Schemes – DHANYUG CO-OPERATIVE (U) THRIFT & CREDIT SOCIETY LTD
A Recurring Deposit (RD) scheme is an excellent way to build savings through regular, small contributions while earning attractive interest rates. At Dhanyug Co-Operative (U) Thrift & Credit Society Ltd, our RD schemes are designed to help members cultivate disciplined saving habits while meeting their future financial goals.
What is a Recurring Deposit?
A recurring deposit is a financial instrument that allows individuals to invest a fixed amount of money every month for a specified tenure. At the end of the tenure, the principal amount, along with the accumulated interest, is paid out. RDs are ideal for those who wish to save systematically without making a large one-time investment.
R.D. SCHEME |
| RD SCHEME 1 YEAR 10.5 | ||
| 500.00 | 6,000.00 | 6,325.00 |
| 1,000.00 | 12,000.00 | 12,705.00 |
| 2,000.00 | 24,000.00 | 25,410.00 |
| 5,000.00 | 60,000.00 | 63,524.00 |
| 10,000.00 | 1,20,000.00 | 1,27,049.00 |
| RD SCHEME 2 YEAR 11.5 | ||
| 500.00 | 12,000.00 | 13,549.00 |
| 1,000.00 | 24,000.00 | 27,098.00 |
| 2,000.00 | 48,000.00 | 54,196.00 |
| 5,000.00 | 1,20,000.00 | 1,35,489.00 |
| 10,000.00 | 2,40,000.00 | 2,70,978.00 |
| RD SCHEME 3 YEAR 12.5 | ||
| 500.00 | 18,000.00 | 21,930.00 |
| 1,000.00 | 36,000.00 | 43,861.00 |
| 2,000.00 | 72,000.00 | 87,721.00 |
| 5,000.00 | 1,80,000.00 | 2,19,303.00 |
| 10,000.00 | 3,60,000.00 | 4,38,607.00 |
| RD SCHEME | |||
| AMT | MONTHS | RATE | MATURITY AMT. |
| 1,500.00 | 60.00 | 14.00 | 130801 |
| 1,800.00 | 48.00 | 13.00 | 113760 |
| 2,500.00 | 36.00 | 12.50 | 109652 |
| 3,800.00 | 24.00 | 12.00 | 103524 |
Recurring Deposit requirements
(Compound Interest rates shall be applied)
Eligibility
- The applicant must be a member of the Society.
- For Society membership related information.
Minimum Deposit Amount
- Rs. 500/- and further in multiple of Rs. 100/-
Special Features
- No TDS is applicable on the interest earned on deposits.
- Offers higher interest rates.
Loan Facility
- Maximum up to 90% against Deposit Amount.
- Interest Rate 14%
Nomination Facility
- Nomination Facility Available.
Premature Payment
- Premature Payment guideline shall be applicable as per Society’s Terms & Condition.
Why Choose Dhanyug Co-Operative’s Recurring Deposit Schemes?
Our recurring deposit schemes are tailored to meet the diverse financial needs of our members. Here’s why our RD plans stand out:
1. Attractive Interest Rates
We offer competitive interest rates to ensure your savings grow effectively over time.
2. Flexible Tenure Options
Choose from a variety of tenure options ranging from 6 months to several years, based on your financial goals.
3. Affordable Monthly Installments
Start saving with small monthly contributions, making it easy for everyone to participate.
4. Safe and Secure
Your recurring deposits are secure with Dhanyug Co-Operative, giving you peace of mind.
5. Easy Online & Offline Process
Open and manage your RD account effortlessly through our user-friendly online portal or by visiting our office.
6. Premature Withdrawal Option
Access your funds in case of emergencies, subject to terms and conditions.
Key Features of Our Recurring Deposit Scheme
- Minimum Deposit Amount: Start with as little as you can comfortably afford.
- High Returns: Earn attractive interest rates, compounded to maximize your savings.
- Nomination Facility: Ensure your savings benefit your loved ones by nominating a beneficiary.
- Automatic Debit Option: Set up automatic payments to avoid missing any monthly installments.
Who Can Open a Recurring Deposit Account?
Any member of Dhanyug Co-Operative (U) Thrift & Credit Society Ltd is eligible to open a recurring deposit account. If you’re not yet a member, you can easily become one by completing the membership process and accessing our financial services.
How to Open a Recurring Deposit Account?
Opening an RD account with Dhanyug Co-Operative is simple and hassle-free:
Visit Our Office or Online Platform
Begin by visiting our nearest branch or using our online portal.
Complete the Application Form
Fill in your personal and financial details in the RD application form.
Submit Required Documents
Provide ID proof, address proof, and your membership details
Choose Your RD Plan
Select the monthly deposit amount and tenure that suits your needs.
Start Your Savings Journey
Make your first deposit to activate the RD account.
Benefits of Recurring Deposit Schemes
1. Financial Discipline
RD schemes encourage disciplined saving habits by requiring regular monthly deposits.
2. Future Security
Build a financial safety net to meet future expenses like education, travel, or emergencies.
3. Short-Term and Long-Term Goals
RDs are suitable for achieving both short-term and long-term financial objectives.
4. Safe Investment
Unlike market-linked investments, recurring deposits are risk-free and guarantee returns.
Recurring Deposit Interest Rates
At Dhanyug Co-Operative, we offer competitive interest rates on recurring deposits, ensuring that your savings grow over the tenure. The interest rates may vary based on the tenure and the deposit amount. Contact us for the latest interest rate details.
Premature Withdrawal Policy
We understand that emergencies may arise. That’s why we offer a premature withdrawal facility on recurring deposits. However, a small penalty or reduction in interest may apply, depending on the terms of the scheme.
Who Should Opt for a Recurring Deposit?
Recurring deposits are ideal for:
- Individuals looking to save regularly for future needs.
- Parents saving for children’s education or marriage.
- Professionals planning for short-term financial goals.
- Individuals seeking a low-risk investment option.
Frequently Asked Questions (FAQs)
The minimum deposit amount varies depending on the scheme. Contact us for specific details.
Once the RD account is opened, the monthly installment amount cannot be changed during the tenure.
Missing an installment may attract a penalty. It’s advisable to set up automatic payments to avoid this.
Yes, premature withdrawal is allowed, but it may incur a penalty or reduced interest.
The interest earned on RDs is taxable as per government regulations.
Why Invest in a Recurring Deposit?
Investing in a recurring deposit is a smart way to:
- Save consistently without burdening your finances.
- Grow your money securely with guaranteed returns.
- Plan for specific financial goals like education, travel, or home improvement.
Contact Us
Start your savings journey with Dhanyug Co-Operative (U) Thrift & Credit Society Ltd and enjoy the benefits of secure, systematic savings.
- Phone: [+91-8750560254
- Website: [www.dhanyugsociety.com]
Let Dhanyug Co-Operative’s Recurring Deposit Schemes help you achieve your financial aspirations with ease. Join us today!