Contractual Savings Product Overview
Contractual Savings
Product Overview
The Contractual Savings Account is a long-term savings product of Prothik Agrajatra Foundation (PAF) designed to help members accumulate funds through regular savings over a fixed contractual period. The product encourages financial discipline and enables members to achieve long-term financial goals such as business expansion, children’s education, housing improvement, asset acquisition, and retirement planning. Members agree to deposit a fixed amount on a weekly or monthly basis for the selected contract period. Upon successful completion of the agreed term, the member will receive the accumulated savings together with the applicable interest earned.
Contract Plans
| Savings Plan | Contract Period | Annual Interest Rate |
|---|---|---|
| Plan A | 3 Years | 7.00% per annum |
| Plan B | 5 Years | 8.00% per annum |
| Plan C | 10 Years | 10.00% per annum |
Interest shall be calculated in accordance with the Foundation’s approved methodology and credited as specified in the product terms.
Objectives
Encourage disciplined long-term savings.
Support members in achieving planned financial goals.
Build capital for future income-generating activities.
Promote financial security and self-reliance.
Strengthen household financial resilience.
Key Features
Fixed weekly or monthly savings deposits.
Three flexible contract options (3, 5, and 10 years).
Competitive annual interest based on the selected plan.
Secure management of member deposits.
Passbook and MIS-based transaction recording.
Nominee facility for all account holders.
Early withdrawal permitted only under the Foundation’s approved policy.
Eligibility
This product is available to registered members of Prothik Agrajatra Foundation who have completed the required membership registration and Know Your Customer (KYC) procedures.
Maturity Benefit
Upon completion of the contractual term, members shall receive the total accumulated savings together with the applicable interest, subject to compliance with the product terms and the Foundation’s policies.
Early Withdrawal
If a member withdraws before the maturity date, the applicable interest shall be determined according to the Foundation’s Early Withdrawal Policy and the actual savings period completed.