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PIGMY DEPOSITS OR DAILY DEPOSIT SCHEME (DDS) :-

Daily Deposit Scheme is a monetary deposit scheme introduced to help daily wage earners, small traders, to inculcate saving habits and also as a way of funding their bigger capital requirements. In this scheme money can be deposited into an account on daily basis. The amount may be as small as Rupees 20/-. The unique characteristic of this scheme is that an agent from the bank collects money to be deposited, on daily basis, from doorsteps of account holder. It has provided many employment opportunities as agents.

One Year Daily Deposit Scheme (DDS)
1. Plan period 12 months
2. The minimum investment plan of Rs 20 and in multiple of Rs. 10
3. Daily trappings must be 25 days in a month
4. 6 percent annual interest rate on deposits
5. Borrow up to 60 percent of deposits, minimum 1000 / - Rs payable on the loan
6. 18.8 percent annual interest on loans, monthly compound rate
7. Prepayment Facility
  • a)   3 months no payment facility
  • b)   3 months to 12 months 5 percent Service Charge payable
  • c)   3 to 12 months No interest payable
  • d)   After 12 months 6 percent simple interest payable
8. Changes in the terms of the plan, renovation, addition and amend by the Janasamruddhi Multipurpose Co-operative Society Ltd.
Calculating the Annual Compounded Rate of Interest
Amount Per DayTotal DepositInterestPayable Amount
2073002247524
501825056018810
10073000224075240
100036500011202376202
15 months daily deposit scheme (DDS)
1. Plan period 15 months
2. The minimum investment plan of Rs 20 and in multiple of Rs. 10
3. Daily trappings must be 25 days in a month
4. 8.5 percent annual interest rate on deposits
5. Borrow up to 60 percent of deposits, minimum 1000 / - Rs payable on the loan
6. 18.8 percent annual interest on loans, monthly compound rate
7. Pre-payment Facility
  • a)    6 months no payment facility
  • b)    6 months to 15 months 5 percent Service Charge payable
  • c)    6 to 15 months No interest payable
  • d)    After 15 months 8.5 percent simple interest payable
8. Changes in the terms of the plan, renovation, addition and amend by the Janasamruddhi Multipurpose Co-operative Society Ltd.
Calculating the Annual Compounded Rate of Interest
Amount Per DayTotal DepositInterestPayable Amount
2090006289628
5022500157124071
10045000314248142
100045000031423481423
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