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//Brofin India

Daily Deposit Scheme

The minimum denomination of the scheme is Rs.10/- per day and in multiples of 10. The company reserves the right to reject any application for opening the account without assigning any reason. The company reserves the right to attach/transfer any account to any of its branches.

Tenure of Payment

The tenure of the account is 12 months and above.

Mode Of Payment:
  • a) All payments to the company shall be made either in cash or by cheque/draft against the receipt countersigned by its authorized signatory payments by any mode or media other than mentioned above shall be at the member account holder’s own risk. The cheque/draft/on line shall be credited in the name of member Account Holder subject to clearance by the bank. Outstation cheques shall not be accepted.
  • b) Installments are to be paid regularly on each working day. The member account holder will have to deposit 30 days payment in the month.
Issue Passbook:

A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the pass book updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.

Maturity:

The Member Account Holder shall surrender the passbook and duly signed maturity form to the company and the maturity shall be paid along with interest as per the below mentioned chart. No additional interest would be paid on the maturity amount, if taken after the scheduled period

  • >Maturity payment of regular accounts.

    On deposit of Rs. 10/- per day Maturity Amount shall be paid to the Member Account Holder within 7 days from the demand made with the company as per the following chart(for daily mode)

  • >Maturity Payment of irregular accounts.

    The account where the member Account Holder has not continued the account regularly, as specified in clause (1) above would be treated as an irregular Account. The company will charge liquidated damages on these irregular accounts on account of non receipt of deposit installments in time and the resultant loss of investment opportunity, etc. The liquidated damages would be deducted from or adjusted against the interest amount payable to the member account holder. No deduction of any kind shall be made from the principal amount deposited by the member account holder. Therefore, at the time of maturity, the payment in these accounts shall be made with interest as per the chart available at the company offices.

Documents Required

  • Passport
  • PAN card
  • Government ID card
  • Driving licence
  • Telephone bill
  • Bank Statement with Cheque
  • Certificate/ ID card issued by Post office
  • Electricity Bill Current
Daliy Scheme - 12 MONTHS
S.No AMOUNT INTEREST  INVESTMENT  COMPOUND INTEREST RECEIVED GROSS TOTAL
1               50 9.50%                18,000                   954                  18,954
2            100 9.50%                36,000                1,907                  37,907
3            200 9.50%                72,000                3,815                  75,815
4            300 9.50%             108,000                5,722                113,722
5            400 9.50%             144,000                7,629                151,629
6            500 9.50%             180,000                9,537                189,537
7         1,000 9.50%             360,000             19,074                379,074

Daliy Scheme - 24 MONTHS
S.No AMOUNT INTEREST  INVESTMENT  COMPOUND INTEREST RECEIVED GROSS TOTAL
1               50 9.50%                36,000                3,788                  39,788
2            100 9.50%                72,000                7,577                  79,577
3            200 9.50%             144,000             15,154                159,154
4            300 9.50%             216,000             22,731                238,731
5            400 9.50%             288,000             30,308                318,308
6            500 9.50%             360,000             37,885                397,885
7         1,000 9.50%             720,000             75,769                795,769

Daliy Scheme - 36 MONTHS
S.No AMOUNT INTEREST  INVESTMENT  COMPOUND INTEREST RECEIVED GROSS TOTAL
1               50 9.50%                54,000                8,691                  62,691
2            100 9.50%                72,000             11,588                  83,588
3            200 9.50%             144,000             23,176                167,176
4            300 9.50%             216,000             34,764                250,764
5            400 9.50%             288,000             46,352                334,352
6            500 9.50%             360,000             57,940                417,940
7         1,000 9.50%             720,000           115,881                835,881

Daliy Scheme - 60 MONTHS
S.No AMOUNT INTEREST  INVESTMENT  COMPOUND INTEREST RECEIVED GROSS TOTAL
1               50 9.50%                54,000             15,325                  69,325
2            100 9.50%                72,000             20,433                  92,433
3            200 9.50%             144,000             40,865                184,865
4            300 9.50%             216,000             61,298                277,298
5            400 9.50%             288,000             81,731                369,731
6            500 9.50%             360,000           102,164                462,164
7         1,000 9.50%             720,000           204,327                924,327