Cumulative Term Deposit Scheme in which Compound interest is paid at the time of maturity.
» Resident Individuals (sole or joint account)
» Hindu Undivided Families.
» Minor through parents/guardian.
» Sole Proprietorship Concerns, Partnership Firms
» Private and Public Limited Companies
» Associations, Clubs, Societies, Trusts etc.
2. FEATURES & BENEFITS:
» Deposit Amount:Rs. 1000/- and above.
» Tenure: 07 days to 10 years.
» Interest rate: Fixed.
» Interest application: Quarterly Compounding basis.
» Interest payouts: On maturity.
» Add-ons: Loan facility up to 90% of amount deposited plus interest accrued.
» Premature withdrawal: Allowed with penalty.
4. TDS :
TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.
» Filled in Application Form.
» Photograph of depositor/s (2 copies)
» Officially Valid Documents as per KYC Norms
» PAN Card or Form 60 or 61
» Any other related documents as applicable to Minors, Partnership Firms, Companies, HUF’s etc
6. RATE OF INTEREST (SUBJECT TO CHANGE) :