Scheme

Our Services

Recurring Deposit Scheme

A Reccuring deposit (RD) is a financial instrument provided by Indian banks which provides investors with a higher rate of interest.

Fixed Deposit Scheme

A fixed deposit (FD) is a financial instrument provided by Indian banks which provides investors with a higher rate of interest.

Daily Deposit Scheme

Daily Deposit Scheme is a monetary deposit scheme introduced to help daily wage earners, small traders, to inculcate saving habits.

Recurring Deposit Scheme

Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.
In recurring deposit account Minimum amount Rs.500/- and multiplies of 100/- is accepted every month for a specified period (1 year to five year) and the total amount is repaid with interest at the end of the particular period.

Features of Madhyanchal Nidhi Recurring Deposit Account

  • Minimum amount that can be depositd is Rs. 500/- at regular intervals
  • The period of deposit is minimum 1 year and maximum five years.
  • The most attractive rate of interest of 11.50 % p.a .with effect from 15th May 2015
  • Providing the loan facility .The loan can be given upto 70% of the amount standing the credit of the account holder.
  • For premature settlement, 2% less than the contracted rate will be applicable
MONTHS 18 24 36 48 60
AMOUNT 9% 10.00% 10.50% 11.00% 11.50%
1000 19,339 26,667 42,469 60,506 81,357
2000 38,677 53,335 84,939 121,011 162,714
3000 58,016 80,002 127,408 181,517 244,071
4000 77,355 106,669 169,877 242,023 325,429
5000 96,693 133,337 212,347 302,529 406,786
10000 193,387 266,673 424,693 605,057 813,572

Note : MONTHLY COMPOUNDING BASIS