Invest your money in 'FLEXIMONEY DEPOSIT SCHEME' of Punjab &Maharashtra Co-operative Bank Ltd.You will get higher yield and yet you can draw any amount at any time without dismantling the entire edifice of your Fixed Deposit.

Other Advantages

• Deposit linked with Saving Bank Account with cheque book facility.
• You can withdraw your money on the very first day of opening Fleximoney Deposit Account.

Solid as gold, liquid as cash
Fleximoney Deposit Scheme

A fixed Deposit Scheme strutured to permit you to use your own money whenever you need it.

• without losing on returns
• without breaking the entire deposit
• without availing any loan thereagainst
• without visiting the branch
• without the hassles of cumbersome documentation

What is fleximoney Deposit ?

It is a unit based fixed deposit coupled with Savings Bank Account. The Deposit is divided into Units of Rs.1.00 each.
In case of emergency requiring a part of deposit amount,you can withdraw the required units. The rate of interest payable on these broken units shall be the one Prevailing on the day the units were made and for the period for which the units remained with the bank. The balance units continue to earn the highest rate of interest.

How does it Actually Work ?

Assume you have a FLEXIMONEY account with the balance of Rs. 10,000/- kept for six months. After two months, to meet contingency, you want to withdraw Rs.3,500/-Assume that the rate of interest for two months is 9.5% and rate of interest for six months is 11.5% for the calculation purpose. Under these circumstances, you will get :

• 9.5% p.a. on Rs. 3,500/- for two months i.e. Rs 55/-
• 11.5% p.a. on Rs. 6,500/- being the balance amount for a period of six months i.e. Rs. 374.
• Total interest of Rs.429/- (Rs.55 + Rs.374)

How Distinct the scheme is ?

Let us assume three different situation of investment namely, Saving Bank, Fixed Deposit and Fleximoney Deposit of Rs.10,000/- and drawing Rs.3,500 after 2 months. The interest earned in each case is as under:

• Savings Deposit Account (@ 3.5%)          Rs.134.00
• Fixed Deposit Account                         Rs.266.00
  (Assuming balance Rs. 6,500/-
  is kept in SB after 2 months)
• Fleximoney Deposit Account                Rs. 429.00

Hence fleximoney deposit account is the best in terms of return and liquidity !

Rules of the Game

• For an Individual -A minimum of Rs. 10,000/- for a period of six months.
• For a Business Firm - A minimum of Rs.50,000/- for a period of six months.
• Your money will earn interest provided it is with the Bank for a minimum period of 30 days.
• Interest on the broken units is credited to your account on the next day.
• The amount withdrawn need not be redeposited.
• In case you desire to redeposit the money, you can do so, provided the minimum amount is Rs.2,500/- for individual & Rs. 10,000 for a business firm for a period of six months.
• The balance in the account will automatically be converted into units under the scheme only if the balance is Rs. 2,500/- (individuals) & Rs.10,000/- (business firms).
• Interest is paid only on maturity.

No Penalty or Service Changes

We understand your needs and problems arising out of financial commitment. That is why we have decided to waive penalty for premature withdrawals. We know, after all, it is your money and we believe you should get it when you need it most. Therefore, we have given you the cheque book and you can draw the money by a cheque whenever you need it. That too free of cost. You need not come to Bank and no hassles of documentation.