Deposits

It’s our job to make your life easier, not to add any stress. So we’ll be fair, reasonable, open and honest with you at all times. We’ll never hide behind financial jargon – we’ll speak in plain English. And we’ll always guide you towards what’s in your best interests.

Here are some great ways to make the most of your money, with low-risk investments that offer good returns.

The VPMPCS operates a Savings Account scheme where members can make regular savings.

Members can save by crediting their money through standing order, check off or paying directly at our cash counters.

Withdrawals must be effected at our cash counters only.

Interests are credited bi-annually, that is at the end of June and end of December each year.

We are pleased to announce that the Society’s Christmas plan has been reactivated and all members will obtain refund of their Christmas savings as from 15 December 2015 subject to being compliant regarding loans and repayments.

This type of deposit assists a member in planning his future or the future of his children.

Regular savings can help a member to access a reasonable sum of money to meet his requirements.

The cumulative deposit is an investment plan which can be taken for one year or up to fifteen years.

Members should contribute an equal monthly instalment.

Each year interest is credited to that account.

For e.g. an equal monthly instalment of MUR 100 for a period of 15 years will allow a member to reap MUR 35,000.

Normally the member will contribute MUR 18,000 and MUR 17,000 will represent interest earn over the fifteen years.

A member can use this plan to tailor the financing of his own projects in the near future or save to meet the costs of his children’s education

This directs you to a table on how the cumulative deposits works.

The VPMPCS do take fixed deposits from its members.

Interest can be paid on a monthly, quarterly, half yearly or yearly basis.

The minimum amount to be invested here is Rs. 100,000/- and it should be kept as deposit for a minimum period of 1 year.

Open Account

Membership is open to every honest Mauritian, regardless of sex, class, creed or political beliefs. All you have to do is to be recommended by 2 existing members of the society.
Read more