23-March-2023

Fixed Deposits

Fixed deposits are a popular form of non-risk investments throughout India. Malankara Multi-State Co-Operative Credit Society (MMSCCS) has realized its social commitment and sound business acumen by accepting money as fixed deposits and offering attractive interest rates.

Some of the reasons for the popularity of the interest rate of fixed deposit of MMSCCS are that it is a sound investment, brings steady growth, is inflation beating in a result of the long-term deposit of money, and that interest can be withdrawn monthly, quarterly, half-yearly, or at maturity.

The Fixed Deposit rate of interest in MMSCCS having areas of operations in Kerala, Karnataka, and Tamil Nadu, is not affected by market fluctuations. The deposits are risk-free, attractive interest generating and an excellent means of earning from idle money. It brings steady returns and is useful for pensioners who get retirement benefits which can be put in Fixed Deposits that bring a steady rate of interest from MMSCCS.

Fixed deposits are suitable for setting aside money that will grow steadily; for the education of children, marriage expenses, or for funds as an emergency plan. People who expect an income and safety of their principal investment at zero risk can opt to invest the money as a fixed deposit.

MMSCCS is one of the best Multi-State societies in India that offer interest rates of 7% to 12.5% for a term varying from thirty days to twenty-five years. Please refer to the table below for the exact rate of interest for fixed deposits at MMSCCS. 

The advantages of Fixed Deposits at MMSCCS are,

• The interest rate does not change as long as the period agreed upon

• There is liquidity, as the amount can be withdrawn prematurely, in case of necessity on the payment of a minimal penalty

• It is a safe investment with stable returns

• It offers an assured rate of interest

• Upon maturity, the amount can be renewed or the interest can be withdrawn and the primary amount deposited back again as a Fixed Deposit.

The documents required for FD at MMSCCS are

• Self-attested copies of the Aadhaar card and PAN of the applicant

• Membership certificate

• FD Application Form completed and signed, with passport-sized photo affixed

• Copy of the first page of the Savings Bank Account or cancelled name cheque

Every person who is a member of MMSCCS can make deposits in MMSCCS. 

FD at MMSCCS is popular among its members in Kerala, Tamil Nadu, and Karnataka because we offer excellent customer service and easy processing.

Though several Banks, Financial Institutions, Co-operative Societies, and Government owned institutions offer the Fixed Deposit scheme, MMSCCS with its reputation, good business sense and management, timely processing, and excellent work ethics, is most attractive for making fixed deposits by its members at Kerala, Tamil Nadu, and Karnataka.

The period of fixed deposits varies from thirty days up to twenty-five years with an interest rate ranging from 7% to 12.5%. 

Join us, we welcome you

Whatever its product, MMSCCS lives up to its vision of,

“To Disseminate our Benevolence to Everyone, Everywhere and Always”

MMSCCS
H.O Circular No. /006/22-23
Fixed Deposit/Investment Products 

Other Terms
• Miminum interest days are 15
• Pre closure is not allowed for MMS, MCS products
• Preclosure of deposits/Investments will be eligible for simple interest @ 5 % only

Long Term Products

Example:-

 Other Terms
 ·         Pre-closure is not allowed for long term products