A term deposit is a fixed term or Recurring Deposit deposit held at a Society. They are basically short-term deposits with maturities which range anywhere from a month to a few years. The deposits are locked-in for a specific time period during which the Society give loans to their members which can offer higher returns.These are an extremely secure investment and are therefore appealing to members who do not wish to take a lot of risks.

FIXED DEPOSITS (FD):

RECURRING DEPOSITS (RD):

MONEY MULTIPLIER DEPOSIT SCHEME (MMDS):

MMDS are the cumulative interest long term deposits where the principal is doubled over the tenure of the deposit. In these deposits the member don’t get the interest payment periodically rather it is paid on maturity along with the principal