The minimum tenure is 1 year and maximum tenure is 2 years for a Daily Deposit Scheme.

1. Adarsh Credit Co-operative Society
Daily Deposit

2. Daily Deposit
•
Even the smallest savings count on a rainy day. Daily
Deposit Scheme is a popular product which works on the
same philosophy.
•
With as low as 10 per day, you can save enough money₹
along with earning an impressive interest as well. It is
popularly known as Pigmy Deposit.
•
Minimum amount 10 or multiple of 5₹ ₹
•
Interest rates effective from May 03, 2017
Interest is basis on daily products

3. Interest rate
PERIOD (IN MONTHS) RATE OF INTEREST (IN % PER ANNUM)
12 8.00
24 10.00

4. What is the tenure of Daily Deposit
•
The minimum tenure is 1 year and maximum tenure is 2
years for a Daily Deposit Scheme.

5. What is the minimum investment
amount for Daily Deposit?
•
The minimum amount of investment is Rs. 10 for Daily
Deposit Scheme and after that, in multiples of Rs. 5/-.

6. How much interest can a member earn
in Daily Deposit?
•
The interest rate of the product is 8% for 1 Year and 10%
for 2 Years.

7. Is there any facility for prematurity in
Daily Deposit?
(A) DDS 01 Year:-
•
<= 03 months → Not available
•
> 03 to 05 months → Allowed without interest, deduction of service charge- 3% and Rs.
30/- stationary charge
•
>5 to 7 months → Allowed without interest, deduction of Rs. 30/- stationary charge
•
>07 to 09 months → Allowed with 3% interest, deduction of Rs. 30/- stationary charge
•
>09 T=to 11 months → Allowed with 4% interest, deduction of Rs. 30/- stationary charge
•
>11 to 12 months → Allowed with 5% interest, deduction of Rs. 30/- stationary charge
(B)DDS 02 Years:-
•
<= 13 months → Not available
•
>13 to 18 months → Allowed with 3% interest, deduction of Rs. 30/- stationary charge
•
>18 to 24 months → Allowed with 4% interest, deduction of Rs. 30/- stationary charge

8. Is there any other facility for loan in
Daily Deposit?
•
Yes! Loan facility is available against Daily Deposit
Scheme. Members can avail maximum 60% loan against
their investment amount in DDS (Minimum Deposit
Balance Rs. 1000/-). Interest rate will be applicable as per
rules of the Society.

9. Are there any special benefits in the
rate of interest for women and senior
citizens?
•
No! Rate of interest is fixed in this product, so no special
benefits available for senior citizens and women.

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