Mango Bonds: 10% Interest Rate In The Form Of Mango
Mango Bonds is a bond scheme from Devgad Taluka Amba Utpadak Sahakari Sanstha Maryadit, in which you pay for the mangoes in advance, and in return, we offer you rate protection or discount over the market rate. We had launched the first version of Mango Bonds in 2011. We are now launching a simplified Mango Bonds 2.0 version
In this version, starting April 2017, we will offer you a 10% Rate of Interest in the form of Devgad Mango every year for your deposit. In other words, you keep a deposit with us, and every year will give you Devgad Mango worth 10% of your deposit. This will also benefit you as your spare money will earn more interest than it will earn from your bank, plus you can also get mangoes every year. Like the first version, this will also be a 5-year project. The base amount will be Rs 50,000 and thereafter in multiples of Rs 5000.
Below are quick terms of Mango Bonds.
- In Mango Bonds, you deposit money with us, and we will give you mangoes worth 10% of your deposit, every year.
- The 10% amount will be added to your account held in our website, and you can order mangoes using that amount.
- The minimum amount is Rs 50,000 and thereafter in multiples of Rs 5000.
- There is a lock-in period of 5 years.
- The amount will not be returned before 5 years under any circumstances. The promise for 10% interest in the form of mangoes is based on this lock-in only.
- In case you compel us to return the amount before the end of 5 years, we will return only the principal amount, deducting any used amount. For instance, if you compel us to return your principal amount at the end of 4 years, we will deduct Rs 40000 of the amount used over 4 years.
- This scheme is to be treated as an invitation to offer, wherein you offer to keep the money with us, on our conditions. We will not accept, or be liable for any claims.
- The delivery of mangoes is subject to market and weather conditions. We will not be liable for or responsible for any delays occurring due to factors beyond our control.
- All disputes are subject to Devgad Jurisdiction only.
- For any queries, you can call +919823807907.