{"id":456,"date":"2026-06-05T18:42:31","date_gmt":"2026-06-05T18:42:31","guid":{"rendered":"https:\/\/web.conceptialmedia.com\/nmdsociety\/?page_id=456"},"modified":"2026-06-10T13:21:06","modified_gmt":"2026-06-10T13:21:06","slug":"saving-account","status":"publish","type":"page","link":"https:\/\/web.conceptialmedia.com\/nmdsociety\/saving-account\/","title":{"rendered":"Saving Account"},"content":{"rendered":"\t\t
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\n 6% Interest p.a.<\/span>\n Zero Balance Account<\/span>\n Anytime Deposit & Withdrawal<\/span>\n No TDS<\/span>\n Passbook Facility<\/span>\n <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Saving Deposit Account<\/h1>\t\t\t\t<\/div>\n\t\t\t\t
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A flexible, zero-balance savings account with higher interest than regular<\/p>\t\t\t\t<\/div>\n\t\t

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Saving Deposit Scheme<\/p>\t\t\t\t<\/div>\n\t\t\t\t

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Your Everyday Savings Account \u2014 Smarter & Better<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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The\u00a0NMD Society Saving Deposit Account<\/strong>\u00a0is a flexible savings scheme similar to a traditional savings bank account, but with significantly higher interest rates and greater freedom. It is designed to encourage the habit of regular saving among our members while keeping their money easily accessible at all times.<\/p>

Unlike bank savings accounts that offer as low as 2.5\u20134% interest, NMD Society’s Saving Deposit Account offers a\u00a06% interest per annum<\/strong>\u00a0on your daily balance \u2014 ensuring your idle money keeps growing even while sitting in your account.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t

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Zero Balance Account<\/strong>\u00a0\u2014 No minimum balance requirement. Open your account with as little as \u20b9100 and deposit in multiples of \u20b9100. Interest is calculated and credited on your maintained balance.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Whether you are a homemaker managing household savings, a student building your first financial habit, or a working professional wanting a flexible emergency fund \u2014 the NMD Saving Account is the ideal choice for everyday savings management.<\/p>

The account comes with a\u00a0physical passbook<\/strong>, nomination facility, and the freedom to deposit or withdraw at any time during branch working hours.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Saving Deposit Account<\/div>\n
Rate of Interest<\/div>\n
6%<\/div>\n
per annum \u00b7 on daily balance<\/div>\n
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<\/div>Zero minimum balance requirement<\/div>\n
<\/div>Anytime deposit & withdrawal<\/div>\n
<\/div>No TDS on interest earned<\/div>\n
<\/div>Passbook provided to all members<\/div>\n
<\/div>Nomination facility available<\/div>\n
<\/div>Higher returns than regular banks<\/div>\n
<\/div>Minimum deposit: \u20b9100 (multiples of \u20b9100)<\/div>\n <\/div>\n Calculate My Interest \u2192<\/a>\n <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Why NMD Society?<\/div>\n

NMD Saving Account vs. Regular Bank Savings<\/h2>\n

See how the NMD Society Saving Deposit Account stacks up against a regular savings account at a nationalised or private bank.<\/p>\n <\/div>\n

\n \n \n \n \n \n \n \n \n \n \n \n \n
Feature<\/th>\n NMD Society Best<\/span><\/th>\n Nationalised Bank<\/th>\n Private Bank<\/th>\n <\/tr>\n <\/thead>\n
Interest Rate (p.a.)<\/td>\n 6%<\/td>\n 2.5% \u2013 3.5%<\/td>\n 3% \u2013 4%<\/td>\n <\/tr>\n
Minimum Balance<\/td>\n Zero Balance<\/td>\n \u20b9500 \u2013 \u20b95,000<\/td>\n \u20b95,000 \u2013 \u20b925,000<\/td>\n <\/tr>\n
Minimum Deposit Amount<\/td>\n \u20b9100<\/td>\n \u20b9500+<\/td>\n \u20b91,000+<\/td>\n <\/tr>\n
No TDS on Interest<\/td>\n \u2713 Yes<\/span><\/td>\n \u2717 TDS applicable<\/span><\/td>\n \u2717 TDS applicable<\/span><\/td>\n <\/tr>\n
Passbook Facility<\/td>\n \u2713 Yes<\/span><\/td>\n \u2713 Yes<\/span><\/td>\n Digital only<\/td>\n <\/tr>\n
Anytime Withdrawal<\/td>\n \u2713 Yes<\/span><\/td>\n \u2713 Yes<\/span><\/td>\n \u2713 Yes<\/span><\/td>\n <\/tr>\n
Nomination Facility<\/td>\n \u2713 Yes<\/span><\/td>\n \u2713 Yes<\/span><\/td>\n \u2713 Yes<\/span><\/td>\n <\/tr>\n
Member-Centric Governance<\/td>\n \u2713 Yes<\/span><\/td>\n \u2717 No<\/span><\/td>\n \u2717 No<\/span><\/td>\n <\/tr>\n <\/tbody>\n <\/table>\n <\/div>\n

* Bank interest rates are approximate market averages as of 2025. NMD Society interest rates are subject to change as per Society policy. Please contact your nearest branch for current rates.<\/p>\n <\/div>\n<\/section>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Saving Account Calculator<\/div>\n

How Much Will Your Savings Earn?<\/h2>\n

Enter your average monthly balance and see exactly how much interest you earn with NMD Society's 6% p.a. saving account.<\/p>\n <\/div>\n

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Saving Account Details<\/h3>\n\n
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