Growth Fund Fixed Deposit Introduction

Growth Fund Account – Fixed Deposit

• This is the second type of account under the Growth Fund.
• It is an investment account for members who want returns on their savings and are willing to keep funds for a long term.
• Minimum 10 shares required to open this account.
• Minimum ₹25,000/- (Twenty-Five Thousand) to maximum ₹5,00,000/- (Five Lakh) can be deposited as a Fixed Deposit.
• The Fixed Deposit term is one year.
• Profit is credited to the account holder only after the completion of one year.
• If the amount is withdrawn before the one-year term (FD broken early), the account holder will not be entitled to the profit amount.
• No second deposit or withdrawal is allowed in a single FD account.