Micro Savings
Kisan Laghubitta Bittiya Sanstha Ltd. (KLBSL) offers following saving products to its members :
- Group Saving :
Group saving is a compulsory saving after involvement in the center as a member. It is a saving product designed to make habit of regular saving to members and encourage them to create funds. A specified amount (not less than 100) has to be deposited by the member clients in every center meetings as a group saving until they remained in the center. An 7.5 percent interest rate is provided in this account.
- Personal Saving :
Personal saving is the optional saving product offered to all the members. Any amount can be deposited in this account. This saving product helps the member to improve their saving habit which is useful when they need fund for their personal use. They can withdraw the amount in any center meeting or other days from office.
- Pension Saving :
Pension saving is also an optional saving product for members but it will be compulsory once they start deposit. Member can deposit a certain amount (not less than Rs.100) as their pension saving in every center meeting. Under this scheme, members will get double amount of their deposit after the completion of 15 years of continued deposit. However, they can get their deposit with normal interest rate if they want to withdraw earlier. After 15 years, members can be benefitted by a regular pension or they can withdraw the whole deposit amount at once.
- Insurance saving :
Insurance saving is the optional saving product offered to all the members. The deposit amount depends on their insurance policy and insurance amount. Member can deposit amount after the calculation of their annual premium divided by 12 months. This saving product helps the member clients to make their life insured.
- Center Fund Saving :
Center fund saving is the saving product offered to all the members as nominee saving account of all members of the center. The deposit amount is defined by the center meeting and the same amount should be deposited by all members. This type of saving can be used for group work/benefits.
- Upakar Saving :
Upakar saving is a common saving product for a center. This product has been designed for depositing the amount collected as penalties, fines & miscellaneous income of the group. The Center determines the amount for penalties, fines etc. This type of penalty system will help the center to enhance discipline of its members. The saving fund shall be used for the common benefit of the group.