Pigmy Deposit
The Pigmy deposit is a very useful scheme for small vendors, daily wage earners, and tiny businessmen of our society. This monetary scheme will help the small earners to deposit any amount of money from their day-to-day income and earn a good rate of interest. The daily contributions start from Rs. 50 to 1000 with a maturity period of 13 months.
Terms and Conditions
- Minimum Deposit is Rs. 50/- for a period of one year.
- Interest is annual compounding.
- No TDS shall be made for Members of NavaShakthi Souhardha Credit Co-Operative Limited.
- Account is not transferable.
- No pre-closure is allowed for deposits less than 13 months.
- Depositors can avail a loan against PDs.
- In case of the death of the customer, the account will be automatically transferred to Nominee as per the mandate.
- Interest is payable annually along with refund on maturity.
- The daily contribution should be regular.