Vruddi (Term Deposit)

Vruddi (Term Deposit): TERM DEPOSIT is a cash investment deposited at a financial institution. Money is invested for an agreed rate of interest over a fixed period of time or term. The surplus/savings amount is deposited for future needs/purpose like education, marriage etc. The amount deposited will earn a higher yield than savings co-operative deposit.

The interest is calculated on a quarterly basis on principal and credited once in a year. Since the interest is compounded, this particular deposit scheme is called VRUDDI DEPOSIT.


  1. The deposit amount will double in 72 months.
  2. It is easily accessible and safe.
  3. The rate of interest is higher for a longer period.
  4. A higher rate of interest than savings co-operative account.
  5. Easily convertible into cash at the time of emergency requirement of funds.
  6. The term for this Deposit starts with a minimum of 1 year and can go on up to maximum period of 10 years
  7. It may be closed before maturity period in case of emergency with reduced interest rates and penalty charges.
    Who can open the account?

  1. All the members of the cooperative is eligible for opening this account
  2. Minimum entry age – 18 years
  3. Minimum deposit amount Rs. 1000/-
  4. The minimum period of deposit is 1 year and maximum period is 10 years.
  5. Interest calculated quarterly but credited yearly.
  6. Nomination facilities available.

Loan against deposit may be given at 75% of principle but 2% extra interest charged on the agreed rate of interest.

Premature closure not allowed, but in special case premature is allowed with a penal cut in interest rate on running period.

A certificate/bond is issued to the depositor noting all the details like deposit amount rate of interest, maturity value and address


Period General Public Preferential*
90-180 days 6% 6.5%
181-364 days 8% 8.5%
1 Year 9% 9.5%
Above 1 year up to 2 years 10% 10.5%
Above 2 years up to 3 Years 11% 11.5%
Above 3 years-10 years 12% 12.5%

* Preferential rate of interest is applied to senior citizens, widows, physically challenged & ex-servicemen