Monthly Income Plan

Determine the eligibility criteria for members to participate in the monthly income plan. This may include factors such as membership duration, age, and other requirements specified by us.

Members typically make lumpsum contributions or deposits into the monthly income plan to build their income corpus. The cooperative credit society will specify the minimum contribution amount and any additional rules or conditions related to the accumulation of funds.

The income amount payable to members is calculated based on various factors, such as the accumulated corpus, prevailing interest rates, and the terms and conditions of the monthly income plan. The cooperative credit society credits the members account on monthly basis after calculating the monthly income payments.

Once a member's monthly income plan is active, the cooperative credit society disburses regular monthly income payments to the member. The payment amount is typically predetermined and fixed, providing a stable income stream.

The cooperative credit society may invest the accumulated funds in various financial instruments or assets to generate the income required for monthly payments. We carefully manage the investment portfolio to balance income generation with risk management and ensure the long-term sustainability of the monthly income plan.

We comply with the relevant laws, regulations, and guidelines set by the regulatory authorities overseeing their operations.

Clear communication with members is crucial. We provide comprehensive information about the monthly income plan, including its terms, conditions, income calculation methodology, and any updates or changes. Additionally, ensure timely reporting of income payments and provide periodic statements to members, enhancing transparency and trust.