Saving Deposit
In Grama Consumer Cooperative Society, saving account can be opened by depositing 1000 Rs. The saving account holder is allowed to withdraw money from the account as and when required. The interest which is given on saving accounts is sometime attractive, but often nominal.
FEATURES & BENEFITS :-
The money can be deposited by using deposit slip in the concerned branches
The money can be withdrawn by using withdrawl slip in the concerned branches.
Passbook facility is available.
No loan facility is provided against saving account.
Saving account is of continuing nature. There is no maximum period.
A minimum amount of Rs.1000/- has to be maintained in saving account.
Enable the depositor to earn high rate of Interest @ 5.00% P.A. based on daily minimum balance.
TERMS & CONDITIONS:-
The minimum investment amount in Monthly Income Scheme Rs. 1000/- more investment. Interest calculation compound Quarterly.
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Frequently Asked Questions
A savings account is a deposit account held at a Grama Consumer Cooperative Society that pays interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a cheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return.
- The main objective of saving account is to promote savings.
- Saving account is of continuing nature. There is no maximum period of holding.
- The rate of interest payable is very nominal on saving accounts. At present it is between 4% to 6% p.a in India.
- Saving account helps the depositor to make payment by way of issuing cheques.
- It helps to do online shopping via facility like internet banking.
- It provides immediate funds as and when required through ATM.
- The bank offers number of services to the saving account holders.