The Sahu Urban T/C Cooperative Society Ltd.

The Cooperative Thrift & Credit Societies are organized and formed with the aim and objects to cater the financial needs and socio-economic development of its members. The services of these societies are focused to save the financial interest of its members as well as save them from the harassments and exploitation of the private money-lenders on the one hand. On the other hand, it creates a sense of self help through mutual help amongst its members as well as encourages them to unite and create a habit of savings for their future needs.

Deposit

Savings and Term Deposits Schemes

Compulsory Deposit Rs. 50/- per month	06.00 % p.a.
Optional/Savings Deposit	06.00 % p.a.

Fixed Deposits

03 to below 06 months	08.00 % p.a.
06 to below 12 months	09.00 % p.a.
12 to below 30 months	10.00 % p.a.
30 months and above	11.00 % p.a.

Money Multiplier Deposit Scheme (MMDS)-

Double in	075 MONTHS
Triple in	117 MONTHS
Five Times in	168 MONTHS
Ten Times in	240 MONTHS

Recurring Deposits-

12 months to below 36 months	08.50% p.a.
36 months and above	09.50% p.a.

Monthly Income Scheme (MIS)-

24 to below 36 months	09.00% p.a.
36 to below 60 months	10.00% p.a.
60 months and above	11.00% p.a.

Note:-

The society does not make TDS on the interest paid or credited to its members as it is exempted under Income Tax Act.
The Interest received by members from the society is taxable under Income Tax Act, if members’ total income exceeds the limit prescribed in the Income Tax Act.
In case of prematurity payment of term deposit, interest shall be calculated and paid as per Optional Deposit A/c (Savings).
Interest on Optional Deposit A/c is calculated on minimum balance in the account between 11th to last date of the month.