A small savings scheme introduced to encourage thrift habit in people. In this daily deposit scheme, the customers can keep adding to their bank balance small or big amounts of their choice and it is particularly beneficial for people who work on a daily wage basis and also among small income groups. They can keep their bank accounts alive and active by contributing even amounts below Rs. 100. Almost 90% of the deposit can be availed as loan.
The customers needn't even come to any of our bank branches to deposit the money as they can hand it over to our collection agents who would go to them and collect the amount. Every day the bank’s agent will come to collect the deposit and issue a on the spot deposit receipt. The deposit is to be maintained for a minimum period of one year and no withdrawal or closing of account is permitted within one year of opening the account. A minimum interest is paid to the daily deposit schemes.
Karivellur Service Co-Operative Bank LTD. No. F 1496
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