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

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

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

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

Yes! terms and conditions applied

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

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