Invest Long... Get more on our Term Deposit.Make Your return immune to interest rate fluctuation and
earn interest rate of 8.00% P.A. for term deposits of 5 years
| Eligible Persons |
 All individuals and HUF are eligible to invest in the product. It is most suitable for income tax payers like salaried persons, higher and middle-income group, retired persons etc.
Deposit can be made in single name of an individual for himself or in the name of the Karta of the HUF OR in joint name.
Joint account may be in the name of maximum two adults or jointly to an adult and a minor. As per Government’s present Guidelines, in case of joint account/ joint holding of deposit, income tax relief will be available only to the first holder of the deposit.
The firms, companies, trust, societies, clubs, institutions, corporates etc. are not allowed to invest under the product. |
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| Period of deposit: |
| 5 years only. |
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| Minimum & Maximum Amount |
Minimum amount shall be Rs. 100/- & in multiples of Rs. 100/- .
Maximum amount in a financial year - Rs. 1/- lac. |
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| Premature withdrawal of deposit. |
| Premature withdrawal of the deposits made under the scheme shall not be allowed before completion of 5 years except in case of death of the depositor. |
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| Interest Payment & Tax Liability |
Interest will be computed on quarterly rest basis.
Deposit can be made under RIRD/MIP/QIP scheme.
Interest on the deposit is liable to tax / TDS.
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| Loan/overdraft against the security of the deposit. |
NO loan and/ or any type of credit facility shall be considered against the security of the deposit.
Nomination facility is available. |
