Susangati Nidhi Limited

Scheme Policy

1. Passbook will be provided within three days of apply. subscribe fees of membership shall not be noted on the side of passbook, only the details of the savings scheme shall be entry.

2. Time building contact daily/weekly/monthly deposit must be submitted, three months of non-deposit will be temporarily deactivate. A penalty of 5% of the outstanding amount shall be charged for re-active the account.

3. The time limit for depositing savings or collection of scheme should be declare & selection by field officer.

4. In case of resignation within one year of membership, subscribe fees never withdrawal after 5 year & schemes will close with pre-closing Fine.

5. Resignation before one year of membership will be deducted from the minimum written penalty for the five schemes mentioned below.

a) Daily Recurring Savings - In case of account closure within one year of account opening, a penalty of 9% will be levied on the total deposit amount. If any member/s do not deposit regularly for twelve days, the account will be temporarily closed, 5% of the outstanding amount will be charged to reactivate the account and no interest will be earned for the days the savings process remains closed.

b) Weekly Recurring Deposit :- If the account is closed within one year of account opening, 7% penalty will be charged on the total deposit amount. If any member/members do not deposit regularly for four weeks, the account will be temporarily closed, 5% of the outstanding balance will be charged to reactivate the account and no interest will be earned for the weeks the savings process remains closed.

c) Monthly Recurring Deposit :- If the account is closed within one year of opening the account, a penalty of 5% will be imposed on the total deposit amount. If a member/members do not deposit money regularly for three months, the account will be temporarily closed, 5% of the outstanding amount will be charged to reactivate the account and no interest will be earned for the months the savings process remains closed.

d) Fixed Deposit :- If the account is closed within one year of opening the account, 3% penalty will be charged on the total deposit amount. Money has to be deposited along with the application form, i.e. one-time savings scheme.

e) Monthly Income Scheme :- If the account is closed within one year of opening the account, 10% penalty will be imposed on the total deposit amount. If the account is closed within two years of account opening, 7% of the total deposit will be charged. If the account is closed between three to four years of account opening, 5% of the total deposit will be charged. If the account is closed between four to five years of account opening, a penalty of 5% will be charged on the total deposit.

f) Loan Account :- In case of resignation before one year of membership, if the loan account is active, the loan principal and interest will be deducted from the savings and 2% penalty will be charged on the outstanding loan amount. Membership You cannot take any form of loan within three months of acceptance. After the maturity of the savings account, all the interest along with the savings amount will be paid only if you close the account and apply for withdrawal or you can run your account regularly. If a member / member's passbook is lost, a fine of two hundred rupees will be imposed, the passbook must be brought with it for any activity in the office.

6.After reading all the above rules, the application for membership should be made consciously. Do not apply to falsely solicitation of another person. Submit the application form to our field officer, beware of brokers. Loans will provide to member's savings or timely transactions behaviour Source & Against mortgage. No loan will be given if the businessmen's daily savings deposit usage or behavior is not good.