Who
is accepting deposits and under what act?
Deposits are accepted by
Cherukuri Mutually Aided Co-operative Credit Society Limited (Regd. No.
AMC/HYD/98/41) registered under the Andhra Pradesh Mutually Aided Co-operative
Socities Act,1995.
Is
it safe to invest in Cherukuri?
It is perfectly safe to invest in
Cherukuri because:
|
(i)
|
Your deposits are in the hands of an
able, dedicated, and competent entrepreneur Sri Cherukuri Rama Rao, whose
dynamic and sincere efforts ensured firm establishment of Cherukuri group.
|
|
(ii)
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Your deposits are invested in safe
and growing fields like Real Estates, Jewelry, and so on.
|
|
(iii)
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Your deposits are invested within
the sister concerns of Cherukuri like Cherukuri Janmabhoomi (Real Estates),
Cherukuri Swarnanjali Jewelers (Jewelry), Advertising, Vidyalayam, and so on,
and the assets of Cherukuri Group can be converted into cash 100% at any time.
|
Where
are my funds invested?
Your funds are invested in
well-established and growing sister concerns within Cherukuri group like Real
Estate, Jewelry, Advertising, and so on.
Does
this company invest in Volatile Shares Market?
No, your funds are not invested in
Volatile Share Markets.
How
old is this organization?
This organization is over a decade
old and has the reputation of never failing its customers since its inception.
It would be better if size of the organization is also included here…
How
can we compare it with the deposits of other institutions?
The difference between the deposits at
Cherukuri and at other institutions can best be understood by taking an example
of balance sheets of both
What
is the minimum deposit amount required for opening a FD account with Cherukuri?
The minimum amount required for
opening FD with us is Rs.10,000/-.
What
is the multiple in which I can open a FD account?
The minimum amount to open the fixed
deposit is Rs.10,000/-. Thereafter, you can open the account in multiples of
Rs.1,000/-.
What
is the tenure for which I can open FD?
The tenure for fixed deposits ranges
from duration as short as 91 days up to greater than 5 years.
How
are interest payments done?
The depositor can withdraw the
interest amount on monthly or quarterly basis, or the interest can be
compounded to the principal amount on a quarterly basis.
Is
TDS applicable on FD?
Tax is deducted at source, from the
interest on Fixed Deposits, as applicable, as per the Income Tax Act, 1961.
Do
senior citizens get any extra benefits on the FDs?
Yes. Senior citizens get extra
benefits as they get greater interest rates on their FDs.
Can
I obtain loan on the security of my FD?
Yes. You can avail loan on the
security of your FD.
Can
I redeem my FD before the completion of the term? Will any penalty be deducted
for doing so?
Yes, FD can be closed before the
original term of deposit. In the event of the Fixed Deposit being closed before
completing the original term of the deposit, interest will be paid at the rate
applicable on the date of deposit, for the period for which the deposit has
maintained with Cherukuri. In case of premature withdrawal, penal rate will be
imposed on the deposit may be subject to interest as prescribed by Cherukuri on
the date of deposit.
Can
I appoint nominee for my FD?
Yes, you appoint nominee for the FD.
How
can I redeem my FD?
After maturity of your FD, you can
walk into our office and claim your deposit by furnishing your fixed deposit
receipt.
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