Fixed Deposit

Fixed Deposit - Jan Yojana Urban Credit Cooperative Society Ltd.

A Fixed Deposit (FD) is a financial product offered by Jan Yojana Urban Credit Cooperative Society Ltd. that allows members to invest a lump sum amount for a fixed tenure at an agreed interest rate. It is a safe and secure investment option where the deposit earns a higher interest rate compared to a regular savings account.

Key Features

  • Higher Interest Rates: Offers competitive interest rates on deposits, typically higher than those of savings accounts.
  • Flexible Tenure: Members can choose the tenure that suits them, ranging from a few months to several years.
  • Security: The deposit is secure, and the principal amount is guaranteed at maturity.
  • Premature Withdrawal: Premature withdrawal is allowed with a penalty on interest, depending on the policies of the society.
  • Loan Against FD: Members can avail of loans against their FD if needed.

Advantages

  • Guaranteed returns with fixed interest.
  • Higher returns than a savings account.
  • Safe and secure investment.