In 1999, it was announced that Bank fixed deposits booked by an Individual for 7 years & upto £. 500,000 will be allowed exemption, subject to necessary declarations taken from the Customer.
Features & Benefits
1.
Minimum Amount: £100/-
2.
Multiples of .£100/-
3.
Maximum Amount: £. 50,000
4.
Tenure - 5 years (lock in period).
5.
Rate of Interest -5.00% p.a, Citizen rate - 5.50%
6.
Monthly or Quarterly interest pay-out option is available.
7.
No Partial/Premature withdrawal allowed.
8.
Sweep-in not allowed.
9.
No OD or pledge allowed.
10.
In the case of joint holder deposit, the deduction from income under section 80C of the Act shall be available only to the first holder of the deposit.
*Conditions Apply
Note: Interest rates are subject to change from time to time. Applicable interest rates will be announced as on the date of receipt of the funds by the bank.
