Cumulative Deposit Scheme
Overview
| Amount of Deposit | Rs.1000/- and in multiples of 100/- |
|---|---|
| Rate of Interest | Attractive rate of interest as decided by bank from time to time. |
| Duration | The period of deposit ranges from a minimum of 6 months up to a maximum of 120 months. |
Features of Cumulative Deposit Scheme
- Loan facility is available against the deposit amount plus accrued interest thereon.
- TDS applicable as per Income Tax rules
- Nomination facility is available.
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