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Personal

A Scheme for long term savings investments, with Income Tax Benefits

Eligible

Individuals & HUFs having PAN Numbers

Minimum Deposit

Rs.10,000/-

Maximum Deposit

Rs.1,50,000/- p.a.

Type of Deposit

FDR/MIC/QIC/DBD

Tenure

  • Minimum-5 years
  • Maximum-Upto & including 10 years

Rate of interest

As applicable to our normal domestic term deposits

Premature withdrawal

Not Permitted upto 5 years

Applicability

All branches in India

Nomination Facility

Available

Advance Facility

Not available for a period of 5 years from The Date of Deposit

Other Benefits

Tax Exemption u/s 80c of the Income Tax Act

Other Terms and Conditions

  • In the case of Joint Accounts,only the first named Depositor will be eligible for deduction under Section 80c of the Income Tax Act.
  • No nomination shall be made in respect of aTerm Deposit applied for and held by or onbehalf of a Minor.
  • The Term Deposit shall not be pledged tosecure a loan or as security to any other advance.
  • Other terms and conditions as applicable to normal Term Deposits.