AMAR BANK being a company registered under the Companies Act 2013, it automatically comes under the supervision of the MCA.
Also being registered under the Company Act 2013 AMAR BANK. Main objective is to encourage and afford all facilities for cultivating thrift ,saving habits and to render all financial assistance to its member only by receiving long and short term deposits and in particular recurring, fixed and other deposits, not being current accounts from the members as are allowed by law for Nidhi 01 Mutual Benefits Companies, and to grant loans to the members only as against securities of immovable properties (within City) and or on the security of deposits, movable such as gold, silver, jewellery, Kisan Vikas Patra, National Saving Certificates Scheme, insurance policies and other Government securities up on such terms and condition as may from time to time prescribed in law for Nidhi or Mutual Benefits Companies.
A fixed deposit is a financial instrument where a member gets assured ROI.
Money can be deposited / withdraw into an account as per the wish of account holder.
Recurring Deposit is a special kind of Term Deposit offered by Amar Bank
Daily Deposit Scheme is a monetary deposit scheme introduced by Amar Bank.
Monthly interest scheme is introduced by Amar Bank.