Navarathnamala Deposit Account

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Navarathnamala Deposits Account

Period of Deposits

Installments can be remitted for 36 / 48 / 60 months.

Product Highlights

A unique mixture of monthly savings and reinvestment plan

Key Features

Mixture of monthly savings and reinvestment plan
Loans can be obtained against the deposit amount
Lump Sum repayment of Rs. 10,000, Rs. 20,000, Rs. 30,000, Rs. 50,000 & Rs. 1,00,000 etc
Further, the deposit account can also be offered as security for other credit facilities

Period of Deposits

Installments can be remitted for 36 / 48 / 60 months
Account can be opened for either 60 months with 36 monthly installments or 120 months with 36 / 48 / 60 monthly installments

Product Highlights

A unique mixture of monthly savings and reinvestment plan
Lump Sum repayment of Rs. 10,000, Rs. 20,000, Rs. 30,000, Rs. 50,000 & Rs. 1,00,000 etc
Scheme is also open to Non Resident Individuals. NRE accounts are fully exempted from the provisions of TDS
A single person / entity can open any number of Navarathnamala accounts
Premature closure is allowed subject to penalty
Nomination facility is available
Standing Instruction / ECS facility available
Loan against the deposited amount is available. Further, the deposit account can also be offered as security for other credit facilities