BELAGAVI
As part of efforts to launch customer-oriented schemes regularly, the Lokmanya Multipurpose Co-Op Society, one of the largest multipurpose multi-state societies in the cooperative sector, has launched a new short term deposit scheme “Lokmanya Sugam Sanchay Deposit” scheme with effect from March 15.
The feature of this scheme is a depositor can invest a minimum amount of Rs 10,000 and will get attractive simple interest at the rate of 7% p.a. There is no ceiling on the maximum amount of deposit. This scheme is a short term deposit for only 200 days.
In this scheme, senior citizens and bulk depositors with a single receipt deposit of Rs 10 lakh and above will get an additional interest of 0.5% p.a. that is 7.5% simple interest.
Depositors can avail of a loan up to 90% of the deposit amount with an interest rate of 2% more than the deposit rate. Premature withdrawal of deposit is permitted with deduction of penalty @ 2.5% on applicable rate for the expired period of deposit.
This scheme is valid up to April 30 only and details of the scheme are available at the 213 branches of Lokmanya Society in Karnataka, Maharashtra, Goa and Delhi.
