Muthalagu Benefit Fund Limited, an ISO 9001:2008 certified company is part of Balamuthalagu group of companies. Since 1927, the group of companies has been providing financial services to rural folks. Muthalagu Benefit Fund Limited (MBFL) enables and encourages its members to save money for their secured future through its ISO standard services and facilities. In the interest of improving the stan
dard of livelihood of common people by forming a community and granting loans to the members at favorable and flexible rate of interest against security of immovable properties, fixed deposits, gold jewelry. Also Muthalagu offers Fixed Deposit schemes, Recurring Deposit schemes and Savings Account to the members. FIXED DEPOSITS
Muthalagu offers multitudes of Fixed Deposit (FD) schemes for various durations. Muthalagu FD schemes are highly flexible and customizable to the investors. Fixed Deposit Schemes
FD Regular Scheme: - Fixed monthly income by way of interest to the depositor for a specified period leaving the principal amount of deposit intact. The monthly interest instalment can be credited to the Savings Deposit account in Muthalagu or Savings/Current account in other banks of the depositor according to the member's instructions. The minimum period for the deposits under this scheme is 12 months. The maximum period is 60 months. The minimum amount of deposit for this scheme is Rs 10,000. This scheme is beneficial for the members who are looking for regular monthly source of income. FD Cumulative Scheme:- In a cumulative fixed deposit scheme, the interest accrued on the deposit at the end of each month is invested along with the principal. The tenure of the deposit must be minimum of 12 months and maximum of 60 months. At the end of the month, the interest and the principal are both rolled over, and the interest is calculated on the total sum. This scheme is beneficial for the members who are looking for highest returns for the investments. FD Benefits
A wide range of tenures, ranging from 12 months to 5 years, to suit member's investment plan
Seamless transfer of funds from member's savings account to higher interest earning fixed deposit
Safe custody of member's fixed deposit receipts
Auto renewal is provided. Loan facility is available up to 90% of principal and accrued interest. Choice of two investment plans: Regular or Cumulative
Interest payable monthly
Interest payable monthly, Quarterly, Half yearly or yearly as per member's convenience
Interest is compounded monthly and reinvested with principal amount. Hassle free opening of a fixed deposit from the comfort of member's home/office
Prerequisites
Depositor must be a shareholder/member of Muthalagu Benefit Fund Limited (To join as a member, you need to buy shares worth of Rs.100 one time)
