HWCTCSL - RD

Recurring Deposit Accounts It’s a type of deposit account provided by banks to people with a regular income. Investors will have to issue a standing instruction to debit a fixed amount from their savings and credit it to the recurring deposit account. A delay in regular payments will result in reduction of the interest payable at maturity. Banks also provide loan facility on recurring deposits to their customers and it can go up to 90% of the deposit value.

HWCTCSL - RD

Recurring Deposit Accounts It’s a type of deposit account provided by banks to people with a regular income. Investors will have to issue a standing instruction to debit a fixed amount from their savings and credit it to the recurring deposit account. A delay in regular payments will result in reduction of the interest payable at maturity. Banks also provide loan facility on recurring deposits to their customers and it can go up to 90% of the deposit value.

HWCTCSL - RD

Recurring Deposit Accounts It’s a type of deposit account provided by banks to people with a regular income. Investors will have to issue a standing instruction to debit a fixed amount from their savings and credit it to the recurring deposit account. A delay in regular payments will result in reduction of the interest payable at maturity. Banks also provide loan facility on recurring deposits to their customers and it can go up to 90% of the deposit value.

HWCTCSL - RD

Recurring Deposit Accounts It’s a type of deposit account provided by banks to people with a regular income. Investors will have to issue a standing instruction to debit a fixed amount from their savings and credit it to the recurring deposit account. A delay in regular payments will result in reduction of the interest payable at maturity. Banks also provide loan facility on recurring deposits to their customers and it can go up to 90% of the deposit value.

HWCTCSL - FD

A fixed deposit is a financial product offered by HWCTCSL to help you earn higher rate of interest on your savings than a regular savings account. It is a kind of savings account that pay you a fixed rate of interest on your savings for investing them for a stipulated duration decided by HWCTCSL. As the name suggest, these are deposits for fixed tenures. You cannot withdraw them prior to maturity. But with advanced notification to HWCTCSL and paying a penalty fee, you can withdraw your fixed deposits. You can invest in fixed deposits for varying tenures at different interest rates, and earn added benefits on your savings, which are given below.

HWCTCSL - MIP

A fixed deposit is a financial product offered by HWCTCSL to help you earn higher rate of interest on your savings than a regular savings account. It is a kind of savings account that pay you a fixed rate of interest on your savings for investing them for a stipulated duration decided by HWCTCSL. As the name suggest, these are deposits for fixed tenures. You cannot withdraw them prior to maturity. But with advanced notification to HWCTCSL and paying a penalty fee, you can withdraw your fixed deposits. You can invest in fixed deposits for varying tenures at different interest rates, and earn added benefits on your savings, which are given below.

HWCTCSL - SAVINGS A/C

What is Savings Account ?

A Savings Account is a virtual vault created by the HWCTCSL on the request of an individual, in which account holder can safely and securely store a virtual representation of his / her real wealth. Account type differs in the terms on which you can use them, with regard to deposits, timing, withdrawals, interest rates, purpose, etc. In today’s world, hard cash in a gunny sack isn’t the safest or smartest way to manage your finances. Today, all the account holder stash their money with HWCTCSLs, who have enabled us to track their balances, transactions, etc. through a variety of means – both in print, and online. When an individual approaches to us with some money and requires a secure place to store that money, the HWCTCSL will offer the individual its most basic product – a savings account.

Why Open a Savings Account?

In HWCTCSL,we require the account holder to maintain a minimum account balance of a certain amount, failing which, HWCTCSL charges a maintenance fees. Savings accounts generally offer an interest rate slightly higher than the rate of inflation, in order to keep the real value of money stable throughout the years. Modern savings accounts are feature packed and offer quick links to pay bills, make quick transactions, etc. to the account holder as soon as he / she logs in to the account.

• Savings accounts have daily withdrawal limits so that they aren’t used as current accounts.
• Savings accounts are generally not zero-balance accounts.
• Savings accounts offer an excellent amount (if not as much as current accounts) of liquidity of funds.
• Savings accounts are usually opened by salaried individuals, as business people usually prefer to maintain current accounts that offer less interest but more liquidity and generally have no minimum balance requirements.

In HWCTCSL, customize savings accounts depending on the general type of usage the account witnesses in its lifetime. A savings account is a virtual vault that holds your money, allows you to withdraw a certain amount from it at certain intervals, and adds to itself a small amount (as interest) each year. Savings accounts are the most common type of account held by individuals around the world and we offer most flexible plan to our member.

Savings Account Details
Sl. No.	A/c Opening Type (In Rs)	Minimum Average Balance To Be Maintained Throughout A Financial Year (In Rs)	Penalty (In Rs)	ROI (%) Per Year	ROI (%) Per Quarter
1.	1000	0 to 999	100	0	0
2.	5000	5000 To 9999	200	4	1
3.	10000	0 to 999	250	5	1.25
4.	25000	25000 To 49999	350	5.5	1.375
5.	50000	50000 To 99999	450	6.25	1.5625
6.	100000	100000 To 199999	650	7	1.75
7.	200000	200000 To 299999	1000	8	2
8.	300000	300000 and above	1250	6	1.5

HWCTCSL - Loan

Loan against Fixed Deposit:
Many financila institutions like Bank, NBFC, Cooperative Societies in India offer loan against fixed deposit accounts. This helps you fulfill your financial requirements by providing funds depending on the value of your fixed deposit. Loan against fixed deposit is granted as demand loans or overdraft against deposits. In Human, we offer up to 50% of total deposit in Loan against FD. It helps in liquidity management. Loan taken against your fixed deposit account can help you get short term money for any kind of financial requirements without breaking your FDs. It also saves you from selling your assets at discounted value to fulfill your monetary needs. The most important advantage of taking a loan against fixed deposit is that you can get a loan at comparative and lower rates of interest than other personal loans as they are unsecured loans. Loans against FDs are secured loans with the underlying deposit in your FD account. You can access the loan amount with cheque book through your savings account only. Loans are available to self and third party individuals including corporate organizations.

Sl. No.	Plan	Rate Of Interest Per Month on Interest
		3 Months	6 Months	12 Months	24 Months	60 Months
1.	FS-3	2.99%	2.59%	1.99%	1.75%	1.50%
2.	FS-5	2.99%	2.59%	1.99%	1.75%	1.50%
3.	FS-7	2.99%	2.59%	1.99%	1.75%	1.50%
4.	FS-10	2.99%	2.59%	1.99%	1.75%	1.50%
5.	FS-14	2.99%	2.59%	1.99%	1.75%	1.50%

Loan Against Recurring Deposit:
Those who have a Recurring Deposit in Human Welfare Credit & Thrift Co-Operative Society Ltd (HWCTCSL), can avail loan against the deposit. In this case, the recurring deposit will be treated as a collateral by the bank and the depositor can avail maximum 50% of the total deposit value as loan amount. This will be a secured loan and any defaulted payment on the loan will be adjusted against the amount available in the recurring deposit account of the borrower. Interest levied on a loan against recurring deposit is below.

Sl. No.	Plan	Rate Of Interest Per Month on Interest
		3 Months	6 Months	12 Months	24 Months	60 Months
1.	RI-3	2.99%	2.59%	1.99%	1.75%	1.50%
2.	RI-5	2.99%	2.59%	1.99%	1.75%	1.50%
3.	RI-7	2.99%	2.59%	1.99%	1.75%	1.50%

Loan Against MIP:
For RI, FS and MIP plan, any registered member having deposit in these plans, can take loan up to 50% of his / her principal deposit before maturity and minimum loan amount will have to be Rs 5000.00/- for FS & MIP and Rs 3000.00/- for RI respectively. Member can avail this loan facility after 1 year from Policy Opening Date for MIP and FS plan and after 6 months of Policy opening date in RI plan. Members have to close his existing loan and will have to repay all his / her due installments of loan before taking maturity of the respective policy on which loan has been disbursed. Installments have to deposited within 30 days grace period of due date, either 2% of penalty charges per month will be applicable on due installment amount.

Sl. No.	Plan	Rate Of Interest Per Month on Interest
		3 Months	6 Months	12 Months	24 Months	60 Months
1.	MIP-3	2.99%	2.59%	1.99%	1.75%	1.50%
2.	MIP-5	2.99%	2.59%	1.99%	1.75%	1.50%
3.	MIP-7	2.99%	2.59%	1.99%	1.75%	1.50%