Monthly Income Schemes


Like other investment schemes of Indira gandhi Co-operative Credit Society, MIS also promises guaranteed secure returns. Our Monthly Income Scheme is a unique scheme that allows members to invest a specific amount of money and get the return every month within the defined tenure along with special MIS interest rate. Investment amount and duration can be selected by the member and interest can be gained on the same.

We, at Indira gandhi Co-operative Credit Society , let you invest under MIS for the tenure of 3 year . The minimum amount of MIS investment is ₹ 10,000 after which you may invest in the multiples of ₹ 1000. We offer you an MIS interest rate varying from 12.12% with such a higher rate of interest, Aastha offers you the Monthly Income Scheme.

Features –

Eligibility :

By an individual in his/her own name. By more than one individuals in their joint names with suitable repayment instructions. On behalf of a minor by his/her natural guardian or by a guardian appointed by court.

Period :


Minimum Deposit :

Rs.10000/- and in multiples of Rs.100/- thereof.

Maximum Deposit :

No Limit

Nomination Facility :

Available as per guidelines

Automatic Renewal :

Deposit will be auto renewed for the same period at the applicable rate of interest on maturity in the absence of specific instruction.

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Rate of Interest :

The rate of interest is payable on MIS as per interest table available on the Bank’s website.

Interest payment Frequency :

Interest will be paid on monthly basis at the discounted value of the contracted rate. (Please check with the branch nearest to you for the latest table on monthly income slabs)

• Interest is paid/credited to the Savings/Current/Cumulative account of the depositor during the last week of every month. First such interest will be paid in the month, following the month in which the deposit is kept.

Loan Facility :


Premature Closure :

Allowed. Interest will be paid for the run period at applicable rate and penalty if any.

Penalty on Premature Closure :

In case of Pre-closure of retail term deposits which have run for 7 days or above.