Recurring Deposit
A fixed monthly instalment for 12 months at 11%, or 5 years at 12%.
A recurring deposit is a monthly saving. You pay the same instalment each month for the tenure you choose. Shradha Nagari Sahakari Pat Sanstha Maryadit offers 12 months at 11% and 5 years at 12%.
The 5-year scheme has published maturity amounts. A monthly instalment of ₹1,200 grows to ₹1,00,000, ₹1,800 grows to ₹1,50,000, and ₹2,400 grows to ₹2,00,000, each over 5 years. Use these figures as the society's published examples when you plan a monthly amount.
Why members choose this
Two tenures
12 months at 11%, or 5 years at 12%.
Monthly discipline
A fixed instalment each month, instead of a single lump sum.
Published 5-year amounts
₹1,200, ₹1,800, and ₹2,400 a month map to the maturity amounts in the table below.
Goal saving
Members use it for a known future expense, with the maturity date fixed at the start.
Interest rate by tenure
| Duration | Interest rate |
|---|---|
| 12 months | 11% |
| 5 years | 12% |
5-year maturity examples
| Monthly instalment | Amount at maturity | Tenure |
|---|---|---|
| ₹1,200 | ₹1,00,000 | 5 years |
| ₹1,800 | ₹1,50,000 | 5 years |
| ₹2,400 | ₹2,00,000 | 5 years |
Who it is for
Monthly savers
Members who can set aside a fixed amount every month.
Five-year goals
Households planning around the published ₹1,00,000, ₹1,50,000, or ₹2,00,000 maturity.
One-year savers
Members who want a shorter recurring deposit at 11% for 12 months.
Documents to bring
- Identity proof, such as Aadhaar
- PAN, when the office asks for it
- A passport-size photograph
- Nominee details
Terms and conditions
- The instalment amount and tenure are fixed when the deposit is opened.
- 12-month deposits earn 11%. 5-year deposits earn 12%.
- The maturity amounts in the table are the society's published figures for those monthly instalments over 5 years.
- Missed instalments and closure before maturity are handled at the branch under the society's rules.
Frequently asked questions
What is the recurring deposit rate?
11% for 12 months and 12% for 5 years.
How much does a 5-year recurring deposit pay?
₹1,200 a month matures at ₹1,00,000. ₹1,800 a month matures at ₹1,50,000. ₹2,400 a month matures at ₹2,00,000. Each example is for 5 years.
Can I choose a different monthly amount?
Yes. Tell the branch the monthly amount you want. The table shows three published examples, not the only amounts the office can open.
Where do I open it?
At the Kotoli branch, Main Road, near Bank of India, or by sending an enquiry from the contact form.
Related services
Start a monthly deposit
Tell us the monthly amount and whether you want 12 months or 5 years. The branch will open the recurring deposit.
Contact the branch