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CUMULATIVE DEPOSITS (MEMBERS ONLY)

Extent :-

It is Compulsory for every Member

Rate of Interest :-

  • Interest will be paid as per the decision of the Committee of Management from time to time. Amount of Deposit-Every member shall have contribute a minimum amount of Rs.20/- per month ordinarily, But the amount of subscription for the whole year may however be paid in one or more installments during that co-operative year.
Condition of Deposit :-
  • It is with draw able when membership ceases, but withdrawal to the extent not exceeding 50 percent of the total deposited amount may be allowed after 10 years of regular payment from the date of Commencement of the subscription or within 5 years preceding the days of retirement as would be convenient to the depositor, provided that he is not a defaulter in repayment of his loan at the time of withdrawal.