Recurring Deposit

Recurring Deposit is a special kind of Term Deposit offered by UNISTAR Credit Co-Operative Society Ltd., Credit which help members with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits. It is similar to making FDs of a certain amount in monthly instalments. For example, Rs.1000 every month. This deposit matures on a specific date in the future along with all the deposits made every month. Thus, Recurring Deposit schemes allow members with an opportunity to build up their savings through regular monthly deposits of fixed sum over a fixed period of time. Minimum Period of RD is 1 year and maximum is 10 years.

TERM AND SCHEME	RATE OF INTEREST*

RECURRING DEPOSIT
12 MONTH RECURRING DEPOSIT RD	9.5% (INDIVIDUAL) / 10% (SINNER CITIZEN & oth*)
24 MONTH RECURRING DEPOSIT RD	10.5% (INDIVIDUAL) / 11% (SINNER CITIZEN & oth*)
36 to 60 MONTH RECURRING DEPOSIT RD	11.5% (INDIVIDUAL) / 12% (SINNER CITIZEN & oth*)

RECURRING DEPOSIT CALCULATION

TERM	MATURITY – ACCORDING TO 1000/- MONTHLY D
1 YEAR RD	PRINCIPLE – 12,000/- MATURITY – 12,631/-
2 YEAR RD	PRINCIPLE – 24,000/- MATURITY – 26,785/-
3 YEAR RD	PRINCIPLE – 36,000/- MATURITY – 43,085/-
5 YEAR RD	PRINCIPLE – 60,000/- MATURITY – 81,119/-

RECURRING DEPOSITE SCHEME: – (ONLY FOR MEMBER)

Account opening from 100/- Rupees only.
This Scheme will run for minimum 12 months or maximum 60 month.
A fee of Rs. 50 per month will be charged on non-active accounts for more than 3 months.
Interest Rate ________Yearly on Account.
Maturity Payment will not be made before the due.