AISHWARYA MACC

AISHWARYA MUTUALLY AIDED COOPERATIVE CREDIT SOCIETY LTD (AMACCSL) is the brain child of Sri Ramesh Raju, MD & CEO a thorough banking professional with nearly two decades of experience. AMACCSL was established in 2011 under the provisions of the Andhra Pradesh Mutually Aided Cooperative Societies Act 1995, Vide Registration No AMC/DCO/RR/1599/2011 with a mission to ensure better living standards to its members by offering the best deposit products in the market and timely lending to meet their financial needs.PRODUCTSSavings Bank AccountFeatures: + Attractive interest of 5% on Daily Balance method + Minimum Balance Rs500/- + Unlimited Transactions + Automatic SMS for all transactions in the accounts + Pass Book facility + Statement Facility without any charges + Fund Transfer through RTGS/NEFT + Mobile APP facility + No Tax Deduction(TDS) on interest earned + Nomination facility available.Current AccountFeatures: + Minimum Balance Rs500/- + Unlimited Transactions + Automatic SMS for all transactions in the accounts + Pass Book facility + Statement Facility without any charges + Fund Transfer through RTGS/NEFT + Mobile APP facility.Fixed DepositsFeatures: + No penalty on pre-mature closure + No interest for pre-mature closure within one month + Loan Against FD available upto 80% of FD amount with applicable interest rate as per Society’s terms and conditions.Apart from the Normal FD’s, the Society offers higher interest of 12% on special schemes under Lakhpathi Deposits with the following features.Lakhpathi FD :Features: + Cumulative FD + Minimum period 2years + No Pre-Mature closure within 1yr. Pre-closure facility after 1yr available with a penalty of 2% on applicable rate, + Loan Against FD available upto 50% of FD amount with applicable interest rate as per Society’s terms and conditions.Aishwarya Pension Scheme :Features: + Monthly Income FD Scheme + Monthly Interest payment @ Rs1,000/- per lakh + Interest payment to Aishwarya SB a/c or to your SB a/c with any other Bank A/c + Minimum period 2years + No Pre-Mature closure within 1yr. Pre-closure facility after 1yr available with a penalty of 2% on applicable rate + Loan Against FD available upto 50% of FD amount with applicable interest rate as per Society’s terms and conditions.Recurring DepositsFeatures: + 0.50% extra interest for RD over and above the Normal rates + Minimum period 1 yr for RD + No interest for pre-mature closure within 6 months + No penalty on pre-mature closure after six months, Applicable interest rate will be paid.Apart from the Normal RD schemes, the Society offers higher interest of 12% on special scheme under Lakhpathi RD with the following features.Lakhpathi RD :+ Minimum period 18 months, + No Pre-Mature closure within 1yr. Pre-closure facility after 1yr available with a penalty of 2% on applicable rate, + Loan Against RD available upto 50% of RD amount after 1yr with applicable interest rate as per Society’s terms and conditions.Mortgage LoansLoans can be availed from the society against the mortgage of immovable propertiesGold Loans:Gold loan is provided against the pledge of gold ornaments from the customer to meet short-term household or personal requirements. Gold loans can be availed in different tenors viz 3 months, 6 months and 1 year.Loans against DepositsWhen a customer invests in the societys fixed deposit, he or she can easily get a loan against it without having to break it as per norms prescribed in FD & RD features. The loan can also be structured as a overdraft facility against his or her fixed deposits.Life and General InsuranceA customer can avail life insurance service to cover his/her life, and General Insurance service to meet Health and Accidental hospitalisation expenses.