Interest-Free Deposit Accounts in Pune, Maharashtra

Bait-Un-Nas'r's five-scheme deposit shelf, opened at any of nine Mumbai and Thane branches with KYC documents (Aadhaar, PAN, photographs): a Saving Deposit for everyday funds with safe custody and easy withdrawal; a Spot Deposit with daily doorstep collection from the member's shop or home; a Recurring Deposit for disciplined monthly contributions with flexible tenure; a Term Deposit in short, lumpsum and recurring variants advertising 'up to 10% profit sharing' (asterisked); and a Haj Umrah Deposit as a dedicated pilgrimage savings plan. The society was established in 1976 under the Maharashtra Co-operative Societies Act 1960 (registration BOM/RSR/786 of 1976) and states 100% interest-free operation under strict Sharia principles (crawled bait-un-nasr.org 2026-08-06).

Janseva's deposit architecture is the most doctrinally explicit in India's interest-free cooperative sector. Demand deposits 'will be treated as qard e hasnah', creating a hard obligation to repay on demand. Every ordinary and associate member must open an Amanah Compulsory Saving Deposit account (ACSD) saving at least INR 10 per day or INR 250 per month, with a two-year lock-in on the minimum and anytime withdrawal above it; the society may deploy ACSD funds at its own risk while depositors 'remain indemnified from outcome of fund utilization' and repayable in full on demand. The Amanah Current Deposit (ACD) works like a bank current account: amanah-held, liquid, withdrawable in part or full anytime, with the depositor sharing neither risk nor return. Around these sit eleven further account types including SHG savings and corpus deposits, Mutual Help Fund, Service/Support Recurring, Recurring Investment, and an investment-deposit family (asset-based, portfolio, participatory business, general and SPV investment deposits) for members who want their money deployed for halal returns. Membership requires shares of INR 100 (General tier: ten shares plus 1% processing and INR 10 admission; Silver 100, Golden 1,000, Diamond 5,000 shares) (crawled janseva.in 2026-08-06).