| Parameter | Details |
|---|---|
| Product Name | AASRA Recurring Deposit (RD) |
| GL Code | RD |
| Product Type | Interest-free, member-driven savings product based on a profitable cooperative ecosystem |
| Product Nature | Interest-Free: No interest or fixed returns. Members receive an Annual Member Benefit Allocation (AMBA) |
| Return Model (AMBA) | A share of the Society’s audited annual surplus, approved by the Board and AGM, based on member participation |
| Eligibility | Exclusively for registered Aasra members, including micro-traders, students, homemakers, and low-income households |
| Tenure Options | Choose between 12 months, 24 months, or 36 months |
| Contribution Rules |
RD Opening Amount: ₹250 Minimum Monthly Deposit: ₹500 (mandatory) Deposits accepted in multiples of ₹100 |
| AMBA Eligibility | To qualify for benefit allocation for a specific month, the deposit must be made on or before the 15th of that month |
| Tax Impact | Zero TDS: AMBA is classified as a cooperative surplus distribution, not interest, and is therefore not subject to TDS |
| Liquidity & Withdrawal | Premature Withdrawal: Principal is fully refunded. Previously allocated AMBA remains payable, but no benefit is allocated for the month of withdrawal |
| Digital Features | Mobile App access to track RD balance, deposit history, maturity date, and tenure progress |
| Safety & Governance | Fully compliant with the MSCS Act 2002 and Amendment Act 2023; surplus is shared only after a statutory audit |
| Required Documents | Aadhaar, PAN, Photograph, Nominee details, and Membership confirmation |
©2026 Aasra Cooperative Credit Society Ltd | Website Designed by Duplex Solutions
