Deposit & Membership Policy

1. Membership Eligibility

• Any individual above 18 years of age, residing within the operational area, may apply for membership.
• Every applicant must pay an admission fee of ₹10.
• All members are required to comply with the Society’s bye-laws and policies.

2. Deposit Schemes

The Society offers the following deposit schemes for its members:

• Fixed Deposit (FD): Attractive interest with flexible tenures (1–5 years).
• Recurring Deposit (RD): Regular monthly savings with assured returns at maturity.

3. Interest & Benefits

• Interest is calculated quarterly and credited as per the scheme guidelines.
• Senior citizens and women may receive 0.5% to 1% additional interest.
• Loans up to 75% of the deposit value can be availed, subject to approval.

4. Premature Withdrawal

• Withdrawal before 6 months is not permitted unless approved by management.
• For early withdrawals after 6 months, interest will be paid at 2% lower than the applicable rate.

5. Loan Against Deposit

Members may avail loans against their FD or RD up to 75% of the deposit amount with applicable interest and processing fees.

6. Taxation & Compliance

No TDS is deducted on interest earned. Members must declare interest income as per applicable laws.

7. Amendment of Policy

The Society reserves the right to amend these policies with the approval of the Board of Directors. Updated policies will be published on the official website.

8. Grievance Redressal

Members can report complaints at the registered office or email info@accsl.co.in. The Society will address all issues within 15 working days.