- 1. Maturity Value- The maturity value is indicated to the member assuming that the monthly instalments will be paid regularly on due dates. If any instalment is delayed, the interest payable in the account will be reduced and will not be sufficient to reach the maturity value. Therefore, the difference in interest will be deducted from the maturity value as a penalty. The rate of penalty will be fixed upfront.
- 2. Interest Rate- Interest is compounded on quarterly basis in recurring deposits. Rate of Interest offered is similar to that in Fixed Deposits. Earlier it seemed to be one of the best method to save the amount yield after years of deposit.
- 3. Loans Facility- Members can avail loans against the collateral of Recurring deposit up to 35% to 70% of the deposit value as per society norms.
- 1. Only members can use our products.
- 2. If any person interested in our society product the membership is compulsory.
- 3. We are multi-state society and working at RAJASTHAN and GUJRAT.
- 4. Our products are only for those members who are resident of our working states.
- 5. KYM(Know Your Members) documents are compulsory for membership.
- 6. Rules and Regulations are similar for every member.
What is Sanjivani Recurring Deposit?
It is a monthly deposit scheme in which member has to deposit certain amount on monthly basis.
What is the minimum investment amount for Sanjivani Recurring Deposit?
The minimum amount of investment is Rs.100 for Recurring Deposit and after that, one can invest in multiples of Rs.50 in this product.
How much interest can a member earn in Sanjivani Recurring Deposit?
The interest rate of the product is 9.50% for term time minimum 1 year and 13.00% of maximum term time 10 year.
Whether prematurity facility is available?
Yes, premature payment facility available only on special conditions.
Whether loan facility is available?
Yes, loan against deposits available as per society norms.
What are the charges if a member skips installments on recurring deposits?
No, any charges if a member skips installments on recurring deposits.