The Board of Directors may permit members to open savings deposit account with the Society.The minimum amount that a person shall hold in the account shall be Rs.5/- and the maximum than can be received from a depositor in any one year shall be Rs.2000/- and the amount to his credit at any time shall not exceed Rs.5000/-.
Interest shall be calculated on the savings deposit at not more than 4% per annum on the lowest credit balance on any date of each month.A depositor cannot withdraw any money from his deposit unless previous notice of at least one fortnight of such withdrawal in each case has been given. No notice of any kind however,is necessary for withdrawals from such accounts up to the limit of Rs.500/-in week.
Every savings depositor will be supplied with a pass book for which he shall be charged Rs.2/-.If the pass book is lost he shall obtain a fresh pass book on payment of cost of Rs.2/.
Deposits may at the discretion of the Board of directors be received at any time from members only.Read More
Loans shall be given to ‘A’ class members only.But no member can claim a loan as a matter of right.There shall be 5 loans viz, Own Fund DCBRead More
On the application of 10 or more members,the Board of Directors may start and conduct chit fund to sRead More