SMSO Cash Certificate
A new scheme called “SMSO CASH CERTIFICATE” and the interest payable will be at the time of maturity only.
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Rate of interest offered on Cash Certificate deposits:
Cumulative Deposit:
| Period | Rate of interest (Yield) |
|---|---|
| 1 Year | 7.75 % p.a |
| 2 Years | 8.25 % p.a |
The rate of interest changes under Deposits is With effect from 01/11/2022.
* Interest amount is subject to TDS as per provisions of Sec 194 A of the Income Tax Act 1961.
Documents required for Opening Cash Certificate Deposits
- Proof of Identity – Voter ID, Aadhar Card, PAN Card (Any one).
- Proof of Address – Voter ID, Aadhar Card, Ration Card, Telephone bill, property tax bill, lease deed (Any one).
- Two Passport size photographs.
- Rupees One hundred for Membership Enrolment.
- Rupees One hundred for opening Savings Deposit Account.
- Deposit account can be opened in the name of minors and should be operated by a Guardian who should be member of SMSO.