Many people are discovering the fundamental saving guidelines and strategies such as having money set aside for a rainy day or for saving up for a major purchase. An overall saving strategy plays a key role in helping one stay in track on their long term goals.

In this connection the Company offers the following kinds of deposits to its members:

 
  1. Fixed Deposit
  2. Re-Investment Deposit
  3. Recurring Deposit
  4. Saviings Deposit
 

* As per Department of Company Affairs, new depositors are required to be properly introduced or a document or their identity has to be furnished to the Company. (KYC norms to be complied)
  THE SALIENT FEATURES ARE GIVEN BELOW
  1.FIXED DEPOSIT**
  a.Interest rate is
 
  (i) 7.00 % p.a for 6 months
(ii) 8.25 % p.a for 12 months
(iii) 8.75 % p.a for 24 months
(iv) 9.00 % p.a for 36 months

For senior Citizens
(i) 7.00 % p.a for 6 months
(ii) 8.75 % p.a for 12 months
(iii) 9.25 % p.a for 24 months
(iv) 9.50% p.a for 36 months

 
b.Interest payments are made on monthly/quarterly/yearly basis,by giving ECS credit to the depositors bank account or by crediting their savings deposit a/c with the Fund or by paying it in person.For outstation depositors interest will be sent by DD after deducting bank charges.
   
  2.RE-INVESTMENT DEPOSIT */ **
  Interest rate is
 
  (i) 8.00 % p.a for 12 months
(ii) 8.50 % p.a for 24 months
   
  3.RECURRING DEPOSIT */ **
  a.Interest rate is
 
  (i) 9.00 % p.a for 12 months
(ii) 9.50 % p.a for 24 months
(iii) 10.00 % p.a for 36 months
 
b.Minimum amount accepted from new depositors for a recurring deposit is Rs.1000/-.
   
  4. SAVING DEPOSIT
  a. Interest is paid at 4.50 % p.a
  b. No person can have more than one account
  c. A minimum balance of Rs.250/- should always be maintained in the account
  d. Balance above Rs.1,00,000 will carry no interest
   
 
*Interest is paid on maturity. For the purpose of TDS, interest will deem to accrue every year and tax will be deducted on the accrued interest in each financial year as applicable.The maturity value will be subject to deduction under the Income Tax Act.

**Deposit is accepted/renewed in multiples of R.1000/- subject to a minimum of Rs. 1000/-.
   
  Note: Payment of interest in excess of Rs. 5000 p.a. will attract TDS. If no tax is to be deducted depositor shall furnish form 15G/15H as the case may be.

For other terms and conditions please refer to the deposit application form
 

             
OUR BRANCHES

 

Madipakkam

No. 26 velachery Main Road Sadasivam Nagar Madipakkam Chennai-600091

PH: 45583203

 

Peravallur

No.164, Paper Mills Road Peravallur

(Near Ponnu Supermarket)

Chennai-600082

PH: 42693203

 

Office Hours

 

WEEKDAYS (EXCEPT FRIDAY)

 

9.00A.M TO 12.30 P.M
1.30 P.M TO 4.30 P.M

 

SUNDAY

 

9.00 A.M TO 12.30 P.M

 

Transaction Hours

 

WEEKDAYS (EXCEPT FRIDAY)

 

9.00A.M TO 12.30 P.M
1.30 P.M TO 4.00 P.M

 

SUNDAY

 

9.00 A.M TO 12.00 P.M

Appadurai Buildings". Regd. Office : No. 173, Vellala Street, Purasawalkam, Chennai - 600 084. Phone : 044 - 2642 1212/ 2642 3203. Email : theppf@gmail.com
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