SAVINGS DEPOSIT
This type of deposit, which is similar to current deposits but is more popular among traders, merchants and businessmen due to comparatively high rate of interest offered on it. The objective of this deposit scheme is to improve saving habit among people. The Depositor can withdraw money from saving bank account any time during working hours through the cheque
FIXED DEPOSIT
In the case of fixed deposits account deposits fixed amount for fixed period at a fixed rate of interest. The minimum amount that should be deposited in fixed deposit amount is Rs. 100/- there is no limit on the amount that can be deposited in this account. The period of deposit ordinarily varies from 15 days to 20 years. The fixed deposit can be withdrawn, not on demand but only after the expiry of fixed periods.
RECCURRING DEPOSIT
The mankada Service Co-operative Bank In the case of reccurring deposits account deposits monthly fixed amount for fixed period at a fixed rate of interest. The minimum amount that should be deposited in recurring deposit amount is Rs. 100/- there is no limit on the maximum amount that can be deposited in this account. The period of deposit ordinarily varies from 1 year to 5 years. The recurrig deposit can be withdrawn, not on demand but only after the expiry of fixed periods.
DAILY DEPOSIT
Aiming the members with small earnings, and would like to save in daily basis. This is a revolutionary savings scheme where in the power of small savings is realized by a member. Daily deposits shall be accepted for a minimum period of 91 days .
CURRENT ACCOUNT
In current account, customers can deposit any amount of money and any no. of times. Similarly they can withdraw from the current account any amount as many times as they wish. Current deposit is mainly intended for traders, businessman etc. bank is liable to repay the amount to them whenever the customer demands it. Normally no interest is paid to these deposits.
SENOIR CITIZEN DEPOSIT
One of the simplest schemes wherein senior citizens can invest their retirement corpus is “Senior Citizen Saving Saccount”. Its current interest rate makes it a compelling investment vehicle for conservative investor who wants guaranteed returns.
SHARE DETAILS AS ON 31.03.2020
| NO. | AMOUNT | |
| A CLASS | 6120 | 83.29 |
| B CLASS | 1 | 1.00 |
| D CLASS | 1967 | 28.50 |
| C CLASS | 8207 | .52 |
| 16295 | 113.31 |