Daily Deposit
A Recurring Deposit, commonly known as DD, is a unique term-deposit that is offered by nidhi companies. DDs are an ideal saving instrument. As per Nidhi rules, Nidhi company can also provide DD facility to its members.
AMT Nidhi provides daily deposit account only to its registered members. Daily deposit is not compulsory but we encourage our members to start with a small daily deposit starting with 50 Rs. In DD, you have to deposit a chosen daily deposit amount for the chosen tenure and at the end of your tenure, you earn a cumulative return (quarterly compounding). The minimum term required for our Daily Deposit scheme is 1 year and 2 years.
Daily deposits shall be accepted for a minimum period of 1 year (12 months) and a maximum period of 2 years (24 months). Therefore, AMT Nidhi provides a daily deposit, there are two tenure available like 1 year, 2 years.
The minimum amount of investment is Rs. 50 for DD and after that in multiples of Rs. 10/-.
• 2 Years – 9.00 % Yearly
Interest on DD will be compounded quarterly.
- DD. will not be premature within first 6 month.
- If DD is matured after 3 month but before 6 month no interest will be paid.
- If any person premature it’s DD then the person will be paid 2 % , less of maturity interest rate.
No! The rate of interest is fixed in this product so no special benefit is available for senior citizens and women
Amount of Rs. 2.00 per hundred per month will be recovered if installments are not deposited on regular basis.
Types & Rates of Interest
Below table demonstrates a DD of Rs 100 per day.
| Period (in Months) | Rate of Interest | Maturity Amount |
| 12 | 8.0 % | 37997 |
| 24 | 9.0 % | 79837 |