Calculation base amount of Rs. 1000/- Monthly

• SMJV Offers 0.5% P.A. additional interest benefit in case of RD and FD to Female & Senior Citizen members.
• Interest will be calculated on daily basis but it will be credited in account on quarterly basis in each plan (Saving/RD/FD)
• In case of any delay in payment of RD installment penalty will be charged @0.5% per day of installment amount.
• On request of the member SMJV can pay interest on monthly basis in case of FD.
• The applications presented for payment prior to maturity period of stopped or running RD and FD accounts, the applicable rate of interest on such accounts will be prevailing interest rate for such period out of which 2% rate will be reduced as per Nidhi Rules 2014 and then the principal amount with interest as per applicable net rate of interest will be paid.
• TDS will be deducted as per relevant provisions of Income Tax Act 1961 in all deposit schemes.
• In case of RD accounts which have been/will be discontinued by members before the maturity period in such case the deposited amount of installments paid by that period will be paid after completion of the maturity period with “applicable rate*” of interest.

*Note: - “applicable rate”:- in above paragraph the “applicable rate” meaning is that interest rate applicable for that period for which installment was paid.