Suvarnkranti Urban Multistate Nidhi Limited

Monthly Income from Suvarnkranti Urban Multistate Nidhi Limited

Monthly Income Scheme Depositors can choose from a wide range of deposit products with maturities ranging from 36 to 60 months at competitive rates of interest and with different features to suit the investment needs of individual Members. Applicant use this plan like a pension plan.

MPP	1 YEAR			2 YEAR			3 YEAR			4 YEAR			5 YEAR			6 YEAR
AMOUNT (RS.)	INTEREST AMOUNT	INCENTIVE AMOUNT	MATURITY AMOUNT	INTEREST AMOUNT	INCENTIVE AMOUNT	MATURITY AMOUNT	INTEREST AMOUNT	INCENTIVE AMOUNT	MATURITY AMOUNT	INTEREST AMOUNT	INCENTIVE AMOUNT	MATURITY AMOUNT	INTEREST AMOUNT	INCENTIVE AMOUNT	MATURITY AMOUNT	INTEREST AMOUNT	INCENTIVE AMOUNT	MATURITY AMOUNT
100000/	833	67	900	917	183	1100	958	242	1200	1000	300	1300	1100	300	1400	1200	300	1500
200000/-	1666	134	1800	1834	366	2200	1916	484	2400	2000	600	2600	2200	600	2800	2400	600	3000
300000/-	2499	201	2700	2751	549	3300	2874	726	3600	3000	900	3900	3300	900	4200	3600	900	4500
400000/-	3332	268	3600	3668	732	4400	3832	968	4800	4000	1200	5200	4400	1200	5600	4800	1200	6000
500000/-	4165	335	4500	4585	915	5500	4790	1210	6000	5000	1500	6500	5500	1500	7000	6000	1500	7500
600000/-	4998	402	5400	5502	1098	6600	5748	1452	7200	6000	1800	7800	6600	1800	8400	7200	1800	9000
700000/-	5831	469	6300	6419	1281	7700	6706	1694	8400	7000	2100	9100	7700	2100	9800	8400	2100	10500
800000/-	6664	536	7200	7336	1468	8800	7664	1936	9600	8000	2400	10400	8800	2400	11200	9600	2400	12000
900000/-	7497	603	8100	8253	1647	9900	8622	2178	10800	9000	2700	11700	9900	2700	12600	10800	2700	13500
1000000/-	8330	670	9000	9170	1830	11000	9580	2420	12000	10000	3000	12700	11000	3000	14000	12000	3000	15000

Upto 11.5%

Interest Rate

12 Months

Min Tenure

100% Safe

No Risk

10000/-

Min amount

Features & Benefits

Interest: The interest you earn on a recurring deposit depends on the amount you contribute and the tenure of the deposit. The rates of interest offered by banks is similar to the interest rates offered on term deposits.
Tenure: The tenures offered will differ between banks. Usually the minimum tenure is 6 months and the maximum tenure is 10 years.
Maturity: Upon maturity, the bank will pay you the sum you have saved plus interest accumulated. This money will either be paid in cash or be credited to your bank account. The maturity value of your deposit will be indicated when you open the RD account.
Loan options: Banks accept RDs as collateral to avail of loans. One can take a loan of 80% to 90% of the value of the deposit.
Tax Deducted at Source: Recurring Deposits recently were brought under taxable income. With effect from June 2015, tax deducted at source (TDS) is applicable on recurring deposits. If the interest on these deposits exceeds Rs. 10,000 per annum, then 10% would be deducted at source. The RD holder will also have to declare interest earned and pay income tax on this amount.
Late Payments: Banks levy a penalty if you miss the monthly deposit by the due date. There are some banks that waive this penalty.
Premature Withdrawal: Most RDs can be closed ahead of the maturity date. A penalty charge plus a penalty on the interest rate may be levied.

Terms & Conditions:

Minimum MIS would be of Rs. 10000 /- and further in multiple of Rs. 1000 /-
TDS Deducted as per provisions and income tax Act.
Special MIS is applicable only for Senior citizens, women, and Govt. employ and for pensioners.
Loan available against deposits up to 75% of deposited amount after one month from the date of deposit.
Payment before maturity not allowed for 90 days deposit scheme and Payment before maturity allowed to other MIS plans, in this case the Calculation of interest on pre-mature payment will be applicable as per savings a/c's rate of interest and already paid interest amount will be deducted from the principal amount.