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Home  >  Deposit Schemes  > Term Deposit Scheme
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Lakhpati Recurring Deposit Scheme
 
Under this scheme, the depositor will receive one Lakh one thousand Rupees on maturity as interest rates are attractive. Accounts can be opened for period in 3 different stages (period) as per customer convenience.

Method of interest calculation and penalty for late payment of installment will be same as applicable to other RD deposit accounts.
 
*Amount Changed from 01/02/2021
 
Sr. No. Period Amount * Maturity Amount
1 24 Months 3963 101000
2 37 Months 2511 101000
3 61 Months 1443 101000

 
Recurring Scheme
 
This scheme is been introduced for monthly saving where you can deposit a certain amount for specified period by the bank. Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.

Along with this we have various schemes of deposits like Fixed Deposit Monthly Interest Scheme, Quarterly Interest Scheme, Half Yearly Interest Scheme, Kamdhenu Deposits (Cumulative Deposit Scheme).

Minimum Amount of deposit: 100 & in multiples of 100/-
Period : Min-12 Months & Max-120 Months
 
Facilities offered
  • Monthly Standing Instruction are accepted. (For installment credit)
  • Installment credit through ECS facility is all offered.
  • Loan against Recurring account is granted as per prevailing rules.
 
Term Deposit
 
The most common term of investment where customer gets better returns/interest on their deposits. Bank offers various ranges of schemes in the form of Fixed Deposits where interest is paid to investor’s at regular intervals, Re-Investment Benefit Deposits where interest gets accumulated in principle & investor receives an accumulated maturity amount at the end of tenure of deposits.

The Vishweshwar Sahakari Bank offers following schemes to its customers.

 
Monthly Deposit Scheme
  1. Interest amount will be paid Monthly.
  2. Interest will be paid in cash or credited to the customers Bank Account through ECS or by Pay order.
 
Quarterly Deposit Scheme
  1. Interest amount will be paid Quartely.
  2. Interest will be paid in cash or credited to the customers Bank Account through ECS or by Pay order.
 
Half yearly Deposit Scheme
  1. Interest amount will be paid Quartely.
  2. Interest will be paid in cash or credited to the customers Bank Account through ECS or by Pay order.
 
Re-Investment Deposit Scheme- Kamdhenu Deposit
Under this scheme investor invest a certain amount for a given period and amount is paid on maturity with interest on quarterly compounding basis. This is the most common form of deposit.
 
GENERAL :-
  • Individual/Two or more persons in their joint names.
  • Co-operative Societies, Registered Trust, Institutions and Associations etc
  • By a natural guardian
Note for all above schemes :-
  1. Rate of Interest will be as per RBI directive & as per Bank’s policy from time to time.
  2. Premature withdrawal of term deposit is allowed subject to prevailing bank rules.
  3. Renewal is carried out at the rate of interest prevailing on the date of maturity provided overdue period does not exceed 14 days from the date of maturity.
  4. Where a receipt gets matured and overdue period exceeds 14 days, interest would be paid as per interest rate applicable to Savings Bank deposit provided the depositor renews the deposit for a further minimum period as per bank clause. If not renewed then in such case no interest will be paid.
  5. Loan against Term Deposit is given immediately as per prevailing rules.
  6. TDS is whenever applicable.
*Condition apply.
 
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