Recurring deposit account
Under this saving of the co-operative the members can open an account on their names by submitting an application. The account holder must be a member of the compulsory deposit scheme. In this scheme a member has to deposit a definite amount for a definite period. This minimum amount is Rs. 50/- but there is no limit to the maximum amount. A member can take advantage of this scheme for a minimum period of 12 months or even more. This interest rate here ranges from minimum of six percent to maximum of 7.75 percent. It varies from period to period.