This is among our most popular reinvestment plans earning a higher rate of interest on your savings. Further, loans against such deposits are available. Deposits can be made for periods ranging from 12 months to 120 months. Nomination facility is also available. Complete details of the scheme is documented below.
- Account can be opened with a minimum deposit of Rs. 1,000.00 and in multiples of Rs. 1,000.00.
- Deposit amount is accepted for the minimum period of 12 months and for a maximum period of 120 months in completed quarters.
- Nomination facility is available.
- Compound interest is eligible, depending upon the period of deposit.
- Premature closing is allowed, subject to penalty. (Interest will not be passed on if the deposit is closed within One Year from the date of deposit/renewal).
- TDS not applicable.
- Loans can be obtained against the deposit amount.
- Premature closure of deposit is not permitted during the pendency of the loan availed, if any, against this deposit