Marriage Education Linked Deposit
The Marriage & Education Linked Deposit is an innovative scheme that is beneficial for girl child starting from 3 years to 18 years of age. This is a monthly remittance deposit for 15 years, refundable on maturity only. Customers can deposit a minimum of Rs. 1000 per month and multiple thereof regularly.
The deposit on maturity will help the parents financially in their daughter's marriage and Children's education.
Terms and Conditions
- The minimum monthly deposit is Rs. 5000 for a period of one year.
- Interest is annual compounding.
- No Term Deposits shall be made for Members of NavaShakthi Souhardha Credit Co-Operative Limited.
- This Deposit is not transferable.
- Pre-closure is allowed only in case of death of the account holder.
- The monthly deposits should be regular.
- In case of the death of the customer, the account will be automatically transferred to Nominee as per the mandate.