Savings Contribution
Savings Contribution is a default Savings Account that commences when an individual joins as a Member. This account can be used for contributing and withdrawing funds from the Society as and when required. This account is offered and promoted as a product by itself and the returns are based on Simple Interest on a Daily Product basis. The interest is paid out at the end of every 3 months (ie., end of every quarter) @ 6% per annum for the amount maintained in the account. This Savings Account is perfect for Pensioners, Working Professionals, Housewives, Businessmen, and Professionals to maintain a good contribution that brings them steady returns.
Fixed Contribution
Fixed Contribution/Investments are liability products offered to the members of the Society with an interest commitment for the specific period of the contribution. Normal closure will be done to the account from which the contribution/investment is generated at the time of maturity. When you are looking for a dependable Fixed Contribution or Investment with good returns consider becoming a Member of KERALA NECESSITY CO-OPERATIVE PROCESSING AGRO SOCIETY and investing in the Fixed Contributions / Investments offered. Members will be having the option to provide auto renewal for these products as per the terms and conditions of the Society from time to time. Nomination facility is available on these contributions. Interest pay-out options can be selected to be Monthly, Quarterly, Half Yearly, Yearly, or On Maturity.
Recurring Contribution
Recurring Contributions are liability products offered to members who prefer to have a systematic investment on a monthly module and collate the maturity benefits of a specific purpose. Recurring contributions will vary from 1 to 5 years. Nomination facility is available on these contributions. On the closure of the contribution in maturity the proceeds will be credited to the bank account details provided by the member at the time of account opening.
Doubling Scheme
Its a specialized investments plan offered by the co-operative society that guarantees to double the contributed amount over a pre-determined period. This scheme is designed for individuals seeking to grow their savings systematically, with an initial investment ranging from 5000 to 25,00,000. The returns are generated based on the co-operative society’s activities, such as business ventures and investments, ensuring steady growth of the contributed funds. The scheme promises to double the invested amount in a fixed time frame (6 years), providing an attractive option for those looking to maximize their wealth and this scheme is most favorable for the bright future of growing children.
Are You Ready To Become A Member
The application for membership of the society shall be submitted by the applicant at any branch of the Society in the prescribed form, and KYC documents, including Aadhaar Card, Pancard.