APSMABCS

Savings Account

A Savings Account is the core product of our co-operative society. It promotes a savings culture among members and forms the foundation for access to credit and dividends.

Product Overview
A personal account maintained by each member of the co-operative.
Used for regular deposits and withdrawals.
Balances in this account may serve as collateral or eligibility criteria for loans.
Interest or dividends are paid periodically based on the society’s surplus.
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Fixed Deposits

A Fixed Deposit Account (FDA) allows members to deposit a lump sum of money for a fixed period at a predetermined interest rate, which is usually higher than that of a regular savings account. It’s designed to help members earn better returns while providing the co-operative with stable capital for lending and investment.

Product Overview
A time-bound deposit account for members of the co-operative.
Funds are locked for a specific period (e.g., 3 months to 24 months).
Offers a fixed, guaranteed interest rate determined at the time of deposit.
Ideal for members seeking secure, short- to medium-term investment options.

Term Deposits

A Term / Recurring Deposit (RD) is a type of account where members deposit a fixed amount regularly (usually monthly) for a pre-determined tenure. It is designed to encourage disciplined savings and accumulate a lump sum over time.

Encourages regular saving through small, manageable monthly deposits.
Safe investment with guaranteed returns.
Predictable maturity amount for financial planning.
Loan facility – RDs can often be pledged for a loan.
Flexibility – tenure and deposit amounts can be tailored to member needs.

Loans

A Personal Loan is a short- to medium-term loan provided to members for personal needs such as medical expenses, education, household repairs, travel, or other urgent requirements. These loans are usually unsecured or minimally secured and are offered at reasonable interest rates compared to commercial banks.

Quick access to funds for urgent personal needs.
Lower interest rates than banks or moneylenders.
Flexible repayment options tailored to member capacity.
Encourages membership loyalty as loans are offered only to members.
Supports financial inclusion for those underserved by formal banks.

Cash Credit Loans

A Cash Credit (CC) Loan is a short-term revolving credit facility extended to members, usually business owners, traders, or small entrepreneurs, to meet their working capital needs. It allows the borrower to withdraw funds up to a sanctioned limit as required and repay and redraw repeatedly during the loan tenure.

Flexible access to funds: Borrowers can withdraw and repay as needed within the limit.
Interest efficiency: Interest is charged only on the utilized amount, not the full limit.
Supports business growth: Helps members maintain smooth cash flow for operations.
Quick credit: Faster approval and disbursement compared to term loans.
Encourages financial discipline: Borrowers maintain records and repay regularly to retain access to credit.

Share Capital

Share Capital is the fund contributed by members to become part of the co-operative society. It represents ownership in the society and is the primary source of capital for the society’s operations. Each member must purchase a minimum number of shares to join the society.