Term Deposit Scheme

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 the period in 3 different stages (period) as per customer convenience.

Method of interest calculation and penalty for late payment of installment will be the same as applicable to other RD deposit accounts.

*Amount Changed from 01/02/2024

Sr. No.	Period	Amount *
1	24 Months	3,900/-
2	37 Months	2,450/-
3	61 Months	1,400/-

Recurring Scheme

This scheme is been introduced for monthly savings where you can deposit a certain amount for a specified period by the bank. A 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 instructions are accepted. (For installment credit)
Installment credit through the ECS facility is all offered.
A loan against the Recurring account is granted as per prevailing rules.

Term Deposit

The most common term of investment is where the 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 investors at regular intervals, Re-Investment Benefit Deposits where interest gets accumulated in principle & investor receives an accumulated maturity amount at the end of the tenure of deposits.

The Vishweshwar Sahakari Bank offers the following schemes to its customers.

Monthly Deposit Scheme

The interest amount will be paid Monthly.

Interest will be paid in cash or credited to the customers' Bank Account through ECS or by Pay order.

Quarterly Deposit Scheme

The interest amount will be paid Quarterly.

Interest will be paid by transfer or credited to the customers' Bank Account through NEFT or by Pay order.

Half-yearly Deposit Scheme

The interest amount will be paid Quarterly.

Interest will be paid by transfer or credited to the customers' Bank Account through NEFT or by Pay order.

Re-Investment Deposit Scheme- Kamdhenu Deposit

Under this scheme, investors invest a certain amount for a given period and the amount is paid on maturity with interest on a 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:-

The rate of Interest will be as per the RBI directive & as per Bank’s policy from time to time
Premature withdrawal of term deposit is allowed subject to prevailing bank rules.
Renewal is carried out at the rate of interest prevailing on the date of maturity provided the overdue period does not exceed 14 days from the date of maturity.
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.
Loan against Term Deposit is given immediately as per prevailing rules.
TDS is whenever applicable.

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