A member’s first expenditure must be towards saving money. People who regularly save will be entitled for the membership rights and privileges. For availing loans, regular contribution towards thrift is one of the conditions. Every member has to contribute to thrift a minimum of Rs.100 permonth to sustain as members of the society. These deposits help to building a corpus for their old age. Since these funds cannot be withdrawn, their interest is capitalised at the end of the financial year. In general, loans cannot be availed more than five times on these deposits. JAGRUTHI converts these thrift deposits into shares from time to time till the authorized capital is paid in full. An interest of 6% on individual’s thrift is paid/credited to account holder calculated on month end balances.
The members of Jagruthi are predominantly women running family businesses. They are in regular need of finances to run or expand their operations.