Daily Deposit
Deposits
Daily Deposit
Interest Rate: 4 %
Small daily savings can create significant financial strength for the future. The Daily Deposit Scheme is designed to encourage members to develop a regular saving habit by saving as little as ₹100 per day, while helping them build a secure fund for their future financial needs.
Regular daily savings help develop financial discipline, and members can earn an interest rate of 4% on their accumulated deposits. By setting aside even a small amount from your daily income, you can gradually build a meaningful financial fund for the future.
Members who maintain regular daily deposits may also avail themselves of loan facilities based on their savings, subject to the applicable terms and conditions.
Features & Benefits
Guaranteed Returns & Minimal Risk
FDs offer secure and predictable investment options with guaranteed returns.
Higher Interest Rates Than Savings Accounts
FDs typically offer significantly higher interest rates compared to Savings Accounts, making them a more lucrative option to grow your savings.
Tax-Savings Benefits
Certain fixed deposits in India offer tax benefits under Section 123 read with Schedule XV of the Income-tax Act, 2025
Convenient & Quick Opening
Opening an online Fixed Deposit is quick and easy, saving time and effort.
Suitable for Long-Term Financial Goals
Ideal for long and medium-term goals due to higher interest rates.
Provides Liquidity
You can avail of loan against FDs, offering liquidity without breaking the deposit before the maturity period.
Eligibility Criteria
- All individuals residing in India are eligible
- HUFs can set up FDs to manage and grow their collective assets
- Business owners operating sole proprietorships are eligible
- Trust Accounts:
Required Document
Only for non-Shree Mahalaxmi Patpedhi holders
- You need to be a resident of India while opening the Account
- A valid PAN and Aadhaar card are necessary
- Your mobile number must be linked to your Aadhaar card
