Recurring Deposit (RD) accounts let members deposit a fixed installment every month on which they earn a cumulative return (Yearly Compounding) on maturity. Co-Operative Society Ltd. provides interest rates on the tenure of the RD.

Daily Savings Scheme
1 Year - 12 Months 2 Year - 24 Months
Amount of Daily payment Interest Rate Principal Interest Maturity Amount Interest Rate Principal Principal Maturity Amount
100 9% 30000 1462 31462 10% 60000 6409 66409
200 9% 60000 2925 62925 10% 120000 12817 132817
300 9% 90000 4387 94387 10% 180000 19226 199226
400 9% 120000 5850 125850 10% 240000 25634 265634
500 9% 150000 7372 157372 10% 300000 32043 332043


Weekly Savings Scheme
1 Year - 12 Months 2 Year - 24 Months
Amount of Daily payment Interest Rate Principal Interest Maturity Amount Interest Rate Principal Principal Maturity Amount
100 9% 5200 234 5434 10% 10400 1066 11466
200 9% 10400 468 10868 10% 20800 2132 22932
300 9% 15600 702 16302 10% 31200 3198 34398
400 9% 20800 936 21736 10% 41600 4264 45864
500 9% 26000 1170 27170 10% 52000 5330 57330


Monthly Savings Scheme
1 Year - 12 Months 2 Year - 24 Months
Amount of Daily payment Interest Rate PMonthly Savings Scheme Interest after 12 months Total Maturity Amount Interest Rate Principle Interest after 12 months Maturity Amount
500 9% 6000 292 6292 10% 12000 1283 13283
200 9% 60000 2925 62925 10% 120000 12817 132817
1000 9% 12000 585 12585 10% 24000 2564 26564
2000 9% 24000 1170 25170 10% 48200 5129 53129
3000 9% 36000 1775 37755 10% 72600 7693 79693
5000 9% 60000 2925 62925 10% 120000 12821 132821


FAQs

What is the tenure of a Recurring Deposit?

For a Recurring Deposit, there are various tenure available 1 year and 2 years.

How much is minimum investment amount for RD?

The minimum amount of investment is Rs. 100 for RD and after that in multiples of Rs. 50/-.

How much interest can a member earn in RD?

The interest rate of the product is as follows:-

  • 1 Year – 9.00% Yearly Compounding
  • 2 Years – 9.50% Yearly Compounding
  • 3 Years – 10.00% Yearly Compounding
  • 4 Years – 10.50% Yearly Compounding
  • 5 Years – 11.00% Yearly Compounding
  • 6 Years – 11.00% Yearly Compounding

Is there any facility for loan in RD?

Yes! terms and conditions applied

Are there any special benefits in rate of interest for senior citizens and women?

No! The rate of interest is fixed in this product so no special benefit is available for senior citizens and women.

What are the charges if a member skips installments on recurring deposits?

If a member skips installments, it will attract a penalty at Rs. 1.50/Rs. 100/Month.