Know About Compulsory Deposit
A "Compulsory Deposit" is a mandatory savings or security deposit required by an institution, government, or financial body. It’s typically used to ensure compliance, cover future expenses, or secure funds that can be accessed under specific conditions, such as in social security programs or public welfare schemes.
- Compulsory Deposit: Rate of Interest 8% Per Annum
- Optional Deposit: Rate of Interest 5% Per Annum
- Minimum Amount: Rs. 100/- and further in multiple of Rs. 100/-
Interest Rates
Compulsory Deposits offer higher interest rates compared to regular savings accounts, ensuring steady growth on your mandatory savings while maintaining security and financial stability.
Deposit & Withdrawal
Any time deposit and withdrawal in Compulsory Deposit allows individuals flexibility to add or withdraw funds anytime, ensuring liquidity while maintaining the deposit’s core obligations.
