Daily Deposit Scheme (D.D.S)

• The minimum denomination of the scheme is Rs.10/- per day and in multiples of 10.
• The company reserves the right to reject any application for opening the account without assigning any reason.
• The company reserves the right to attach/transfer any account to any its branch.
• Defaulters will be charged at the rate of Rs. 2/- per Rs. 100/- per 15 days.

Tenure of Payment
The tenure of the account is 12 months and above.

Mode Of Payment:-
a) All payments to the company shall be made either in cash or by cheque/draft against the receipt countersigned by its    authorized signatory payments by any mode or media other than mentioned above shall be at the member account     holder’s own risk. The cheque/draft shall be credited in the name of member Account Holder subject to clearance by the     bank. Out station cheques shall not be accepted.
b) Installments are to be paid regularly in each working day. The member account holder will have to deposit 30 days     payment in the month.

Issue Passbook:-
A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the pass book updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.

Maturity:-
The Member Account Holder shall surrender the passbook and duly signed maturity form to the company and the maturity shall be paid along with interest as per the below mentioned Chart. No additional interest would be paid on the maturity amount, if taken after the scheduled period

• Maturity payment of regular accounts.
  On deposit of Rs. 10/- per day Maturity Amount shall be paid to the Member Account Holder within 7 days from the demand made with the company as per the following chart(for daily mode)
• Maturity Payment of irregular accounts.
  The account where in the member Account Holder has not continued the account regularly, as specified in clause (1) above would be treated as irregular Account. The company will charge liquidated damages on these irregular accounts on account of non receipt of deposit installments in time and the resultant loss of investment opportunity, etc. The liquidated damages would be deducted from or adjusted against the interest amount payable to the member account holder. No deduction of any kind shall be made from the principal amount deposited by the member account holder. Therefore, at the time of maturity, the payment in these accounts shall be made with interest as per the chart available at the company offices.

Pre Mature Closure Of Deposits:-

Fore closure of Deposits will not be permitted until completion of 3 months From the date of Deposits. Deposits foreclosed after 3 months but before 6 months from the date of Deposits no Interest will be paid. Deposits foreclosed after 6 months, interest at 2% shall be deducted from the normal rate of Simple Interest for the period of Deposit.