- 1. Maturity Value- The maturity value is indicated to the member assuming that the weekly instalments will be paid regularly on due week. 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 weekly basis in Sanjivani Weekly deposits Scheme. 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 year (weeks) of deposit.
- 3. Loans Facility- Loan against deposits available 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 Weekly deposits Scheme?
In weekly deposit Scheme Member has to deposit money on weekly basis for particular time period.
What is the minimum investment amount for Sanjivani Weekly deposits Scheme?
The minimum amount of investment is Rs.1,000 for Weekly deposits Scheme and after that, one can invest in multiples of Rs.100 in this product.
How much interest can a member earn in Sanjivani Weekly deposits Scheme?
The interest rate of the product is 10.00% for minimum term time 1 year( 52 weeks) and maximum term time 12.00% of 5 year (260 weeks).
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.