Fixed Deposit (FD) is a financial instrument provided by Samannoy Nidhi to its members, which provides members a higher rate of interest than a regular savings account, until the given maturity date. For a fixed deposit is that the money cannot be withdrawn from the FD as compared to a recurring Deposit or a demand deposit before maturity. Samannoy Mutual Benefit Nidhi offer additional services to FD holders such as loans against FD certificates at competitive interest rates.
Popular Fixed Deposit Schemes
| Scheme Code | Tenure | Rate of Interest (%) | FD Amount | Maturity Amount |
| FD_12 Month | 12 Months | 8.2 | 100000 | 108456 |
| FD_24 Month | 24 Months | 8.7 | 100000 | 118784 |
| FD_36 Month | 36 Months | 9.7 | 100000 | 126973 |
| FD_48 Month | 48 Months | 10.2 | 100000 | 149613 |
| FD_60 Month | 60 Months | 12 | 100000 | 180611 |
Terms & Conditions:
- It is mandatory to be a member in the Company.
- Company will issue shares worth Rs.100/- to FD account holder.
- Minimum FD would be of Rs.1000.
- Interest calculated quarterly compounded.
- Applicable TDS to be deducted on Interest as per the provisions of Income Tax Act.
- Loan available against deposit upto 75% of deposit amount after 1 from the date of deposit.
- In case of death of a depositor, the Company will repay to nominee or beneficiary the principal & interest, at which it was accepted.