10.5% Aditya Anagha Multi Credit Coop Society FD Scheme – Should you invest?

Aditya Anagha Multi Credit Coop Society FD Scheme ReviewAditya Anagha Multi Credit Coop Society FD Scheme – Should you invest?


Have you heard of interest rates of 10.5%. Do you know that your money would get tripled (yes you heard correct, it is tripled) in just 10 years time frame. Aditya Anagha Multi Credit Co-op Society FD Schemes offers such high interest rates. Aditya Anagha Multi Credit Co-op society is based out of Nagpur division and offers several FD Schemes with high interest rates. Should you invest in Aditya Anagha Multi Credit Coop Society FD Scheme? What are the risk factors one should consider before investing in such high risk FD Schemes? This post is based on request from Nagavalli on suggest a topic option.

Also Read: Shriram Transport Offer highest Interest Rates with High Credit Rating – Should you invest?

About Aditya Anagha Multi Credit Coop Society


Aditya Anagha Multi Credit Coop Society is Multi State Cooperative society based out of Nagpur Division. It was established in 2011. It has 64 branches across Nagpur, Amaravati and Madhya Pradesh Divisions. It provides loans to its members and accepts deposits from members and also from general public. As on 31st March, 2017, here is the financial status

1) Deposits of Rs 214 Crores

2) Loans of Rs 112.98 Crores

3) Investments of Rs 24 Crores

Features of Aditya Anagha Multi Credit Coop Society FD Scheme


Here are the quick features of Fixed Deposit Schemes from this Society.

a) This co-op society offers various fixed deposit schemes ranging between 46 days to 10 years period.

b) These FD Schemes offer interest rates of 6% to 10% for general category.

c) These FD Schemes offer interest rates of 8% to 10.5% for Senior Citizens category.

d) These FD Schemes offer interest rates of 6% to 10% for society members.

e) It offers 4 FD Schemes i.e. Fortune Deposit Scheme, Recurring Deposit Scheme, Long Term Deposit scheme and Fast track cumulative deposit scheme.

1) Fortune Deposit Scheme – Aditya Anagha Multi Credit Coop Society


This deposit scheme is available for 46 days to 2+ years tenure.

This FD offers 6% to 10.5% interest rates. Interest rates would vary for general category, Sr. Citizens and Society members.

Here are the interest rates on this FD scheme.

Fortune Deposit Scheme - Aditya Anagha Multi Credit Coop Society

Also Read: Which Post Office Scheme Offers Highest Interest rates in Apr-2018?

2) Recurring Deposit Scheme – Aditya Anagha Multi Credit Coop Society


This deposit scheme is available for 1 year, 2 years, 3 years, 4 years and 5 years tenure.

It offers interest rates of 8% to 9%.

Minimum deposit is Rs 50 and in multiples of Rs 50 there-of.

Here are the interest rates on this FD scheme.

Recurring Deposit Scheme - Aditya Anagha Multi Credit Coop Society

3) Fast Track Cumulative Deposit Scheme – Aditya Anagha Multi Credit Coop Society


This deposit scheme is available for 1 year and above.

It offers interest rates of 9% per annum.

Minimum deposit is Rs 5,000 and in multiples of Rs 1,000 there-of.

If you have invested Rs 1 Lakh, the maturity at 1 year would be Rs 109,310 with compounding.

Here are the interest rates.

Fast Track Cumulative Deposit Scheme - Aditya Anagha Multi Credit Coop Society

4) Long Term Deposit Scheme – Aditya Anagha Multi Credit Coop Society


This deposit scheme is available for 10 year period.

Minimum deposit is Rs 5,000 and in multiples of Rs 1,000 there-of.

Your money would be tripled in 10 years period. If you have invested Rs 1 Lakh, your money would get tripled to Rs 3 Lakhs.

How to contact them for FD Scheme?


Many people are getting confused indicating what are Adithya Anagha Bank Details. This is not bank, but it is society. They can be reached on customercare.adityaanaga@gmail.com / Ph: 0712-2743551 or any of the branches indicated on their website adityaanagha.com.

How safe is this FD Scheme?


Last year, Central Registrar has issued notice about multi state cooperative societies FD Scheme (As per Circular No.R-11017/19/2017-L & M New Delhi, dt.3 July 2017) that “Multi state Co-operative societies are functioning as autonomous Co-operative organizations accountable to their members and not under the administrative control of the control of the Central Registrar, Ministry of Agriculture and farmers’ Welfare. Therefore, the depositors/members are advised to take decision for investing deposits based on the performance of the society at their own risk. Central Registrar, Ministry of Agricultural and farmers’ Welfare does not provide any guarantee for these deposits”.

Also in 2014, there were several rumous spread about the scandal about some of the co-operative societies, however the society is still functioning normally as of now.

Also Read: SBI Mutual Fund Reclassifed 38 Mutual Fund Schemes – Should you continue to invest?

Should you invest in Aditya Anagha Multi Credit Coop Society FD Scheme?


While this society has over 60 branches in Nagpur, Amaravati and MP Division, this is less known company/society in FD Schemes. As per Registrar, there is no guaranteed from central body about such society FD Scheme. If something happens to performance of the society, you may not get your money invested in FD Scheme. Hence this is high risk FD Scheme. Instead of thinking for 10% returns and investing in this society FD scheme, one can invest in high return FD scheme like Shriram Transport Finance FD Scheme or any other company FD scheme which has good credit ratings. I would advice investors to be little cautious about such FD schemes.

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Suresh

Aditya Anagha Multi Credit Coop Society FD Scheme Review

Suresh KP

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