Microfinance Saving



Introduction

This is mandatory saving. Each group members needs to deposit a specified amount of money in each centre meeting. Minimum one hundred rupees is deposited in each month. Bank provides 7.5 percent interest in the deposit. This is important to cultivate the habit of monthly saving.







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Introduction

This is also a mandatory saving for the group members who borrows loan. Generally 5 % of the loan amount should be there in the centre fund to be eligible to borrow the loan. Bank provides 7.5% of interest in this type of saving account. Members who have already started the pension or Education saving scheme need not to keep 5% of the borrowing amount in the account at the time of financing.







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Introduction

This is an optional account A member can open this type of account with minimum balance of Rs.100 The amount can be withdrawn as per requirement of the depositor keeping minimum one hundred in the account. Bank provides 7.5 % interest in the amount.







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Introduction

This is a long run saving scheme where a member continues to deposit a fixed amount of money for a specified period. In case of continuous deposition for 15 years , she is eligible to get double of the fund collected till that period. If a member continuous to deposit only for 10 years , she is eligible to get 1.5 % of the total deposit amount . In other cases , bank will decide a rational rate of interest and returns back the sum. This type of saving is voluntary in nature.







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Introduction

This is common account of the centre, where each members of the centre deposits a small sum of money . The amount of money to be deposited by the members is decided by group members themselves. The account is operated by the joint signature of centre chief and vice centre chief . The fines, penalties and other donations from different people or organizations are kept here in order to use in welfare works. Bank provides 7.5% interest in the amount collected.







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