Daily Deposit
- Minimum MIS would be of Rs. 100000/- and further in multiple of Rs.10000/-
- No TDS Deducted on interest paid upto interest of Rs.100000 Per annum by VGS GRAMIN NIDHI Limited on Deposits.
- Special MIS is applicable only for Senior citizens, women, and Govt. employ and for pensioners.
- Loan available against Deposit up to 75% of deposited amount after 3 month from the date of deposit.
- Rate of interest on loan against Deposit would be higher than applicable rate of interest to your Deposit.
| Plans | |||
|---|---|---|---|
| Amount | Time Period | Rate | Maturity |
| 100 | 360 Days | 2.50% | 36487 |
| 100 | 730 Days | 4.16% | 76078 |
| 100 | 1217 Days | 6.35% | 132487 |
| 100 | 1825 Days | 6.11% | 212430 |
Tenure of Payment
- The tenure of the account is 12 months and above.
Mode Of Payment:-
a) All payments to the company shall be made either in cash or by cheque/draft against the receipt countersigned by its authorized signatory payments by any mode or media other than mentioned above shall be at the member account holder’s own risk. The cheque/draft shall be credited in the name of member Account Holder subject to clearance by the bank. Out station cheques shall not be accepted.
b) Installments are to be paid regularly in each working day. The member account holder will have to deposit 30 days payment in the month.
Issue Passbook:-
A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the pass book updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.
Tenure of Payment
- Maturity payment of regular accounts.
- Maturity Payment of irregular accounts.
- Pre-Maturity
On deposit of Rs. 10/- per day Maturity Amount shall be paid to the Member Account Holder within 7 days from the demand made with the company as per the following chart(for daily mode)
The account where in the member Account Holder has not continued the account regularly, as specified in clause (1) above would be treated as irregular Account. The company will charge liquidated damages on these irregular accounts on account of non receipt of deposit installments in time and the resultant loss of investment opportunity, etc. The liquidated damages would be deducted from or adjusted against the interest amount payable to the member account holder. No deduction of any kind shall be made from the principal amount deposited by the member account holder. Therefore, at the time of maturity, the payment in these accounts shall be made with interest as per the chart available at the company offices.
Pre-Maturity is not allowed at any point of time but member can avail loan facility.