Fixed Deposit account is an attractive scheme to deposit savings for fix period of 15 days to 1095 Day fixed deposit is meant for those investors who want to deposit a lump sum of money for a fixed period; say for a minimum period of 15 days, thereby earning a higher rate of interest in return. Investor gets a lump sum (principal + interest) at the maturity of the deposit.
Bank's fixed deposit scheme is one of the most common savings scheme for an average investor. Fixed deposit also gives a higher rate of interest than a savings bank account. Some of the facilities offered by bank on fixed deposit are overdraft (loan) facility on the amount deposited, premature withdrawal before maturity period (which involves a loss of interest) etc. Bank deposits are fairly safer because banks are subject to under control of the Reserve Bank of India.
In Reinvestment deposits, interest is calculated quarterly or half yearly and added to the principal amount. i.e. Interest is compounded at regular intervals
In Cumulative deposit scheme, interest is payable at the time of maturity along with the principal. This scheme is suitable for persons who do not require periodical interest payment and this can be thought of as a money multiplier scheme.it is good choice for long term planning with garneted returns.
Recurring Deposit scheme Commonly known as RDs is an unique term deposit , is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after one to five years. The scheme, a systematic way for long term savings, is one of the best investment option for the low income groups.
Why Recurring Deposit with Us ?
The minimum investment in our bank Recurring Deposit Account is Rs 100/-. The upper limit for investment is Rs. 1000/-. Anyone can open this account in their personal name. Two or more individuals can open combine account. The bank will provide passbook to depositor and depositor have to take passbook when they come for deposit monthly instalment or close account. The bank don't take any commission on monthly instalment deposit from depositor.
A safe and easy way to save your money is with a bank savings account. A bank savings account allows you to deposit money (add money to your account) or withdraw money (remove money from your account) at any time. In return for keeping your money at the bank, the bank pays you money, also known as interest. Saving deposit is ideal to save part of earnings/park your funds/earn interest as also withdraw money when needed, in short its provide liquidity.
Interest will be earned on the money you have on deposit at the bank. Since you may deposit or withdraw money each day, the bank will calculate how much money you should receive in interest. You will also receive a periodic statement from the bank listing your deposits, withdrawals, interest, and account balances. Passbook is also given to the depositors.
Current Account is primarily meant for businessmen, firms, companies, public enterprises etc. that have numerous daily banking transactions.
In a Current Account, a customer can deposit any amount for any number of times. He can also withdraw any amount as many times as customer wants, subject to availability of fund in the account.
Current Accounts is a non interest bearing account mainly use to serve needs of business, are meant neither for the purpose of earning interest nor for the purpose of Savings but only for convenience of the business.
All Co-Operative bank deposits are eligible for insurance cover under DICGC (Deposit Insurance and Credit Guarantee Corporation). Primary co-operative societies are exception, for a maximum deposit amount up to 5 lacs
What is Fixed Deposit?
Fixed Deposit account is an attractive scheme to deposit savings for fix period of 15 days to 1095 Day fixed deposit is meant for those investors who want to deposit a lump sum of money for a fixed period; say for a minimum period of 15 days, thereby earning a higher rate of interest in return. Investor gets a lump sum (principal + interest) at the maturity of the deposit.
Bank’s fixed deposit scheme is one of the most common savings scheme for an average investor. Fixed deposit also gives a higher rate of interest than a savings bank account. Some of the facilities offered by bank on fixed deposit are overdraft (loan) facility on the amount deposited, premature withdrawal before maturity period (which involves a loss of interest) etc. Bank deposits are fairly safer because banks are subject to under control of the Reserve Bank of India.
Required Documents:
All Co-Operative bank deposits are eligible for insurance cover under DICGC (Deposit Insurance and Credit Guarantee Corporation). Primary co-operative societies are exception, for a maximum deposit amount up to 5 lacs.
Fix deposit is good choice for people who have some extra lump sum amount which they don’t need to use immediately, it ensures capital protection as well uniform flow of income.
Fix deposit are great way to invest for those who rate safety higher then returns
What is a Cumulative Deposit Bank Account?
In Reinvestment deposits, interest is calculated quarterly or half yearly and added to the principal amount. i.e. Interest is compounded at regular intervals
In Cumulative deposit scheme, interest is payable at the time of maturity along with the principal. This scheme is suitable for persons who do not require periodical interest payment and this can be thought of as a money multiplier scheme.it is good choice for long term planning with garneted returns.
All Co-Operative bank deposits are eligible for insurance cover under DICGC (Deposit Insurance and Credit Guarantee Corporation). Primary co-operative societies are exception, for a maximum deposit amount up to 5 lacs.
| Sr.No | Type |
|---|---|
| 1 | CD Reinvest-Int - IND |
| 2 | CD Reinvest-Int - Sr Citizen |
| 3 | CD Reinvest-Int - PANCHAYAT |
| 4 | CD Reinvest-Int - LOCAL BODY |
| 5 | CD Reinvest-Int - JLG |
| 6 | CD Reinvest-Int - SELF HELP GROUP |
| 7 | CD Reinvest-Int - SAKHI MANDAL |
| 8 | CD Reinvest-Int - FARMERS CLUB |
| 9 | CD Reinvest-Int - TRUST |
| 10 | CD Reinvest-Int - INSTITUTIONS |
| 11 | CD Reinvest-Int - PACS SOC |
| 12 | CD Reinvest-Int - MILK SOC |
| 13 | CD Reinvest-Int - HOUSING SOC |
| 14 | CD Reinvest-Int - MARKETING SOC |
| 15 | CD Reinvest-Int - CREDIT SOC |
| 16 | CD Reinvest-Int - INDUSTRIAL SOC |
| 17 | CD Reinvest-Int - PROCESING SOC |
| 18 | CD Reinvest-Int - P/S UNIAN SOC |
| 19 | CD Reinvest-Int - OTHER SOC |
| 20 | CD Reinvest-Int - BANK |
Facilities In Fixed Deposit Account.
What is Recurring Deposit ?
Recurring Deposit scheme Commonly known as RDs is an unique term deposit , is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after one to five years. The scheme, a systematic way for long term savings, is one of the best investment option for the low income groups.
RDs is one of the traditional and safest means to invest and people also use it for well creation
Why Recurring Deposit with Us ?
The minimum investment in our bank Recurring Deposit Account is Rs 100/-. The upper limit for investment is Rs. 1000/-. Anyone can open this account in their personal name. Two or more individuals can open combine account. The bank will provide passbook to depositor and depositor have to take passbook when they come for deposit monthly instalment or close account. The bank don’t take any commission on monthly instalment deposit from depositor.
Recurring Deposit allows people to make regular deposit and earn decent interest on investment. RDs account holder can choose to invest a fix amount each month thus Rds is an ideal saving cum investment scheme.
Rds aim at inculcating regular habit of savings in people and depositors can plan to save for their future financial goals, it is ideal for those who want to target their short term goal.
Features:
Required Documents ::
What is Saving Account?
A safe and easy way to save your money is with a bank savings account. A bank savings account allows you to deposit money (add money to your account) or withdraw money (remove money from your account) at any time. In return for keeping your money at the bank, the bank pays you money, also known as interest. Saving deposit is ideal to save part of earnings/park your funds/earn interest as also withdraw money when needed, in short its provide liquidity.
Interest will be earned on the money you have on deposit at the bank. Since you may deposit or withdraw money each day, the bank will calculate how much money you should receive in interest. You will also receive a periodic statement from the bank listing your deposits, withdrawals, interest, and account balances. Passbook is also given to the depositors.
Primary objective of SB account is to encourage individuals to save money for some period at safe and accessible place.
Why Saving Account with Us?
The Savings Accounts from Valsad District Central Co Op. Bank LTD. promises you a unique banking experience through innovative features and very good services. It provides you with a host of benefits to take care of all your banking needs. Opening a saving account with us is easy and speedy. 3.25 % of interest is being given to the depositors.
Option for BSBD and small savings account is also available in addition to standard SB account.Individuals (singly-jointly)/HUF/PACS/Non individual can open SB account
Minimum balance / average balance/limit on transaction cash /cash deposits applicable.
All Co-Operative bank deposits are eligible for insurance cover under DICGC (Deposit Insurance and Credit Guarantee Corporation). Primary co-operative societies are exception, for a maximum deposit amount up to 5 lacs.
Required Documents:
What is Current Account?
Current Account is primarily meant for businessmen, firms, companies, public enterprises etc. that have numerous daily banking transactions.
In a Current Account, a customer can deposit any amount for any number of times. He can also withdraw any amount as many times as customer wants, subject to availability of fund in the account.
Current Accounts is a non interest bearing account mainly use to serve needs of business, are meant neither for the purpose of earning interest nor for the purpose of Savings but only for convenience of the business.
All Co-Operative bank deposits are eligible for insurance cover under DICGC (Deposit Insurance and Credit Guarantee Corporation). Primary co-operative societies are exception, for a maximum deposit amount up to 5 lacs.
Who Can Open Current Account?
Basic Documents required for opening Current Account
Note: Other documents as required according to category of account
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