Most societies with a meaningful sinking fund eventually put some of it into Fixed Deposits — a sensible way to earn interest on money that isn't needed immediately. The problem is that FDs are also one of the easiest things for a committee to lose track of: a deposit made three committee terms ago, renewed a few times, with the paperwork known to whoever originally set it up and not written down anywhere else.
Every FD, its maturity date, and its interest — in one place
Nivas Portaltracks each Fixed Deposit as its own record: bank, principal amount, interest rate, and maturity date. When an FD matures and pays out interest, that income entry can be linked directly back to the specific FD it came from, so the earned-to-date total stays accurate and visible — not folded into a generic “interest income” line with no way to trace which deposit it came from.
- Maturity dates are visible to the whole committee, not held by whoever opened the account.
- Interest income traces back to a specific FD, so it’s clear whether a deposit’s actual return matches what the bank promised.
- A change of committee doesn’t mean starting the FD list over from memory — the record persists.
It also makes committee handover far less risky: an incoming treasurer inherits a clear list of exactly what deposits exist and when they mature, instead of having to track down bank passbooks and hope nothing was missed.
Track your society's Fixed Deposits alongside the rest of your accounts — start a free trial at nivasportal.com. Related read: a fund balance that answers itself.