Various Deposit Schemes
JANANIDHI
The following deposit schemes have been launched by Jananidhi
- Current Deposit Scheme
- Savings Bank Deposit Scheme
- Recurring Deposit Scheme
- Fixed Deposit Scheme
- Reinvestment Deposits Scheme
- Daily Deposits Scheme
- Jananidhi Cash Certificate
- Millionaire Deposit Scheme
| The Rate of Interest for the deposits since 1st December 2011 are as under: |
| Current Deposit Account : |
0.50% p.a. |
| Savings Bank Deposit Account : | 4.00% p.a. |
| Daily Deposit Account | 4.00% p.a. |
Rate of Interest for Fixed Deposit Schemes:
| Amount |
period |
rate of interest |
principal amount |
interest amount |
maturity amount |
| FOR REGULAR CUSTMOR |
| 10000 |
12 months |
9.75% |
10000 |
975 |
10975 |
| 10000 |
24 months |
10% |
10000 |
2000 |
12000 |
| 10000 |
36 months |
11.25% |
10000 |
3375 |
13375 |
| FOR SR/CITIZEN CUSTMOR |
| 10000 |
12 months |
10.25% |
10000 |
1025 |
11025 |
| 10000 |
24 months |
10.5% |
10000 |
2100 |
12100 |
| 10000 |
36 months |
11.75% |
10000 |
3525 |
13525 |
The rates of interest for Fixed Deposit Scheme are applicable to Recurring Deposit Scheme, Reinvestment Scheme, Jananidhi Cash Certificate, Millionaire Deposit Scheme.
Nomination facility is available for all deposits.
Loan will be available against deposits up to 75% of amount held as deposit i.e. with a margin of 25%. Rate of Interest for loans against deposits will be 2% above the contracted rate of interest for that Deposit Receipt.
For premature deposits rate of interest will be 2% less than the rate of interest applicable to the period for which the deposit has run.
Please find appended detailed description of each deposit scheme with the Rate of Interest and expected Maturity Amount:
Rate of Interest for Recurring Deposit Scheme:
| Amount |
period |
rate of interest |
principal amount |
interest amount |
maturity amount |
| 1000 |
12 months |
9.75% |
12000 |
648 |
12648 |
| 1000 |
24 months |
10% |
24000 |
2645 |
26645 |
| 1000 |
36 months |
11.25% |
36000 |
6915 |
42915 |
| * this is compounding quarterly interest |
Rate of Interest for Re-investment Deposit Scheme:
| Amount |
period |
rate of interest |
principal amount |
interest amount |
maturity amount |
| FOR REGULAR CUSTMOR |
| 10000 |
12 months |
9.75% |
10000 |
1011 |
11011 |
| 10000 |
24 months |
10% |
10000 |
2184 |
12184 |
| 10000 |
36 months |
11.25% |
10000 |
3949 |
13949 |
| FOR SR/CITIZEN CUSTMOR |
| 10000 |
12 months |
10.25% |
10000 |
1065 |
11065 |
| 10000 |
24 months |
10.5% |
10000 |
2303 |
12303 |
| 10000 |
36 months |
11.75% |
10000 |
4154 |
14154 |
| * interest calculate with compounding quarterly interest |
Rate of Interest for Jananidhi Cash Certificate deposit schemes:
| Amount |
period |
rate of interest |
principal amount |
interest amount |
maturity amount |
| FOR REGULAR CUSTMOR |
| 9082 |
12 months |
9.75% |
9082 |
918 |
10000 |
| 8207 |
24 months |
10.00% |
8207 |
1793 |
10000 |
| 7169 |
36 months |
11.25% |
7169 |
2831 |
10000 |
| FOR SR/CITIZEN CUSTMOR |
| 9082.00 |
12 months |
10.25% |
9037 |
963 |
10000 |
| 8207.00 |
24 months |
10.5% |
8128 |
1872 |
10000 |
| 7169.00 |
36 months |
11.75% |
7065 |
2935 |
10000 |
Rate of Interest for Millionaire Deposit Scheme:
| Amount |
period |
rate of interest |
principal amount |
interest amount |
maturity amount |
| FOR REGULAR CUSTMOR |
| 72627 |
3 years |
11.25% |
72627 |
27373 |
100000 |
| 64253 |
5 years |
9.25% |
64253 |
35747 |
100000 |
| 53833 |
7 years |
9.25% |
53833 |
46167 |
100000 |
| FOR SR/CITIZEN CUSTMOR |
| 71657 |
3 years |
11.75% |
71657 |
28343 |
100000 |
| 62803 |
5 years |
9.75% |
62803 |
37197 |
100000 |
| 52140 |
7 years |
9.75% |
52140 |
47860 |
100000 |
| *interest calculate with compounding yearly interest |
SIMPLE DEPOSIT SCHEME
This account comes to serve lower strata of our Society, who are unable to fulfill all conditions of Savings Bank Deposit Scheme. The Minimum Balance stipulations and Charges on this deposit scheme are very low.
Eligibility: All individual Indian nationals, who are minimum 18 years of age and whose earning is less than Rs.7500/- per month can open Simple Deposit account
Mode of operation: Singly/jointly/Either or survivor/Former of survivor etc.
Minimum Balance: The accountholders are expected to maintain minimum balance of Rs.100/-. However, no penalty should be levied if it is violated.
Maximum Balance: Rs.25000/- If the balance exceeds Rs.25000/-, the account will be converted into Savings Bank Deposit account.
Rate of Interest: As applicable to Savings Bank account, at present 4.00% p.a.
Passbooks will be issued
Nomination facility will be available.
DAILY DEPOSIT SCHEMEThere is a saying “Little drops of water make a mighty ocean”. This scheme is designed to suit the needs of everyone, from housewives to salaried employees, and from hawkers to business tycoon. JNFSC’s authorized collection agents will visit the depositor’s house or workplace to collect money to be deposited. He/she will deliver receipt immediately and credit the amount to depositor’s account on the same or next working day. Doorstep service will be available to them.
Commission at 2.50% of collected amount will be paid to these agents.
Rate of Interest: 4% p.a. There will be no penalty for irregular deposits.
Period is restricted to 60 months.
MONTHLY/QUARTERLY DEPOSIT SCHEME
This plan is aimed at those, who require periodical assured income for sustenance, especially Pensioners, or retired people, who are dependent on regular payment of interest on their Fixed Deposit amount. The interest earned on their deposits will be paid/credited to their accounts.
| Minimum Deposit : | Rs.5000/- |
| Period : | 1 to 5 years |
| Rate of Interest : |
as applicable to fixed deposit. |
The Interest Rates are subject to change in line with the market conditions, kindly contact our nearest Jananidhi Centre for further details and up to date information.
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