Scheme features & terms
As the term denotes, the daily deposit is collected daily by collectors visiting each depositor.
Members can enrol by submitting an application with details of the period, total amount and daily instalments.
The minimum period is 6 months and instalments are in multiples of Rs 10/-, with a minimum daily instalment of Rs 50/-.
Collectors visit each depositor daily (excluding Sundays), collect the amount, issue a receipt and make entries in the member's passbook.
A daily depositor can avail an advance on the security of the deposit and personal surety, not exceeding double the balance and not exceeding the deposit amount on maturity. The advance period shall not exceed the maturity period.
On maturity the balance will be paid after adjusting dues, if any. The depositor surrenders the passbook for verification at the office.