Fixed Deposits


The interest rate on Fixed Deposits for one year can be fixed by the society as follows:

Period%per annum
12 Months To 24 Months10%
From 25 Months10.50%
Senior CitizensAdditional 0.5%
1. interest being paid in monthly basis
2. No. T.D.S. for members Transaction as per sec. 194A (3)
3. Exemption of wealth Tax under Section 5 of the Wealth Tax Act.
4. E.C.S. Credit of interest to the members Bank Account
5. Capital gains exemption under Section 54 or 54F or 54EA and 54EB
6. IT Exemption under Sec 88 for interest earned on deposits upto 10,000/- per annum.
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