Periodic Savings

Periodic Savings

Periodic Savings refer to the savings collected by a member over specific periods and interest rates. Members can deposit amounts up to Rs. 10,000 for periodic savings. The savings can be collected for durations ranging from 1 to 3 years, depending on the agreement between the member and the organization. The interest rates and duration for periodic savings are as follows:

• 1-year periodic savings
• 2-year periodic savings
• 3-year periodic savings

If a member withdraws the amount before the end of the agreed period, they will receive 50% of the specified interest if they have completed at least 50% of the savings duration. If they withdraw before completing 50% of the duration, no interest will be provided.