Capital accumulation is the main factor to creation of self-employment of the poorer people. The poor people are always in capital crisis. So, that is why they depend to some one to borrow loan to raise capital. Hence this is the stand of Samadhan to helping in accumulation of capital by their own, so, in-courage the customers to deposit saving in weekly meeting at the time to payback loan installment. A certain day, time and place the individual groups are sitting in weekly meeting. The grassroots level staff called credit officers are attending in each group meeting timely and collecting savings around BDT. 20 in a week. Deposit and withdrawal amount of savings is open for customers i.e. they can deposit any amount of savings in any of weekly meeting. The group members are getting 6% interest against their deposited savings. The group member can withdraw any amount from their deposited saving incase of family need in any time.
Fixed Term Saving Deposit Scheme:
Poor people often value regular, disciplined savings systems as a way of building up useful lump sums that can be invested or used for social obligations such as marriages, funeral or children’s education. These products respond to the Poor’s demand for liquid savings systems that protect their money from frivolous spending and allow the slow, but steady accumulation of a lump sum. For the sake of customers benefit in the sense to accumulate savings through fixed time deposit scheme, Samadhan encourage opening the same account with set amount for the set time, against of which Samadhan pays a significantly higher rate of interest on this regular fixed term saving deposit scheme than general savings. Such account allows savers to determine the amount and time of deposits and withdrawals. After the period of maturity customer can withdraw the entire amount with interest and bonus. The fixed term saving deposit account offers the following advantages to the customers:
- Customers can deposit on a monthly basis according to their income/ cash flows.
- At the end of the period, customers receive more than the total deposited amount.
- After maturity of 10 years of period they will get back net just double of the deposited amount.
- Incase of failure to deposit installment they can withdraw the deposited entire amount with 6% interest.