- Micro Finance
- Microfinance Deposit Schemes
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- Microfinance Deposit Schemes
Micro finance program nurtures the saving habits among the members instilling the philosophy of continuous practice with patience. The following are the saving products under the micro-finance program.
- Personal Saving:- Members can save and withdraw any amount on their personal saving account individually. The bank provides the stipulated rate of interest to this savings regularly. This scheme is optional in nature.
- Group Saving:- This saving is maintained on the name of group compulsorily. In this account amount determined by the centre meeting is collected on every group meeting once a month. The saving amount from group to group may be different as the amount is the matter of group meeting based on the affordability of the group member.
- Double Saving:- Members are allowed to save certain amount under this scheme and the bank pays back its double amount saved cumulatively at the end of 10 or 15 year.
- Centre Fund Saving:- Every member in the group must save Rs. 10 per month for this saving. Main purpose of this saving is to provide fund on regular maintenance stationery and logistic support for conducting centre meetings. In addition to this, the fund promotes collective feelings amount the members availing subsidy in the cases like maternity/ post natal caring expenses, mourning period and natural calamities like floods and fire accidents.