KCBS – Fixed Deposits
Fixed deposits have always stood for safety, credibility with attractive rate of interest. Fixed deposits of The Kakinada Cooperative Building Society Ltd are mainly two categories (i.e.) cumulative and monthly interest of regular income.
Advantages/ features:
- Deposits across a minimum tenure of 30 days.
- Any time access to your deposits.
- Accidental insurance to depositors.
- No tax deduction at source, but the member can exhibit the deposits which are invested with the society in the IT Returns of every year.
- Minimum deposit amount of Rs.1000/- under cumulative and Rs.5000/- under monthly interest Scheme. No bar for maximum limit.
- Annual compounding method is opted.
Key Points
- Loan / over draft facility is available upto 80% to 85% of F.D. amount invested with the Kakinada Cooperative Building society. Rate of interest will be 2% over and above the rate offered on deposit.
- Premature withdrawal permitted on payment of subject to applicable charges of the Kakinada Cooperative Building society rules.
Nomination facility available for all deposits.