Saving Deposit Account is a basic deposit facility offered by Aasra Cooperative Credit Society to promote thrift and regular savings among members. This account enables members to deposit and withdraw funds any number of times without transaction charges, making it suitable for day-to-day financial needs.
No return is provided on balances maintained under this scheme, as the deposits are not intended for investment or profit-sharing purposes. It serves as the primary transaction account for members to carry out routine financial activities with the Society.
Daily Deposit Account is a convenient savings scheme offered by Aasra Cooperative Credit Society to encourage regular thrift and disciplined savings among members. Under this scheme, members can deposit small amounts on a daily basis to build a meaningful savings corpus over time.
The accumulated deposit amount can be withdrawn by the member upon maturity or as per the scheme conditions. No return is provided on deposits maintained under this scheme, as it is primarily intended to promote savings habits and financial discipline. This facility is especially suitable for self-employed members, small traders, and individuals with daily income streams.
Current Deposit Account is a transaction-focused account offered by Aasra Cooperative Credit Society to support members engaged in self-employment and small livelihood activities. This account enables access to essential banking services for managing day-to-day business transactions.
The respective member who owns and operates the enterprise will be the authorized signatory for the account. There is no restriction on daily deposit or withdrawal limits, ensuring maximum operational flexibility.
Recurring Deposit Account is a savings scheme offered by Aasra Cooperative Credit Society that enables members to build investments through regular periodic contributions.
The net profit generated from the Society's approved investment activities will be shared with depositors after deducting necessary charges. There is no fixed or predetermined rate of return, as earnings depend on actual investment performance. Members can withdraw the accumulated deposit amount upon maturity.
Investment Deposit Account is a deposit scheme offered by Aasra Cooperative Credit Society based on ethical profit-and-loss sharing principles. Members can place their funds for a defined period, enabling the Society to invest these deposits in viable projects and ventures as approved by the Board from time to time.
The net profit or loss arising from such investments will be shared proportionately with members after deducting applicable administrative charges. While the Society adopts prudent investment and risk-mitigation strategies to safeguard members' interests, returns are not fixed or guaranteed, as they depend on the performance of the underlying ventures.
Endowment Deposit is a special product of Aasra Cooperative Credit Society, designed for members who wish to dedicate a portion of their wealth during their lifetime. Members who support the growth of an interest-free financial system are encouraged to contribute through this scheme.
Any member can open an Endowment Deposit and make contributions either periodically or at convenient intervals to build the intended endowment corpus. No return is offered on amounts deposited under this scheme. These funds enable the Society to extend low-cost financial support to economically weaker members.
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