Education Deposit

Education Deposit
Can I apply for an Education Deposit?
 
You can apply if you are...
A salaried person
Small trader
Rural saver
Professionals & Self-employed
 
You can use this deposit for the higher education of your children.
 
What are the features of the Education Deposit?
It is a variation of the Recurring deposit scheme
You pay a smaller instalment every month according to the period of your deposit which decreases every year
  - 1/5th decrease for deposits of 63 months
- 1/7th decrease for deposits of 84 months

For example, if you're paying a monthly instalment of Rs. 250/- for 63 months, you pay...

- Rs. 250/- p.m. in the 1st year
- Rs. 200/- p.m. in the 2nd year
- Rs. 150/- p.m. in the 3rd year and so on
You can get your deposit and the interest repaid in convenient instalments or in one lump sum
  - Three annual instalments for a 63 month deposit
- Four annual instalments for a 84 month deposit
 
What is the minimum amount I can deposit?
 
The minimum monthly deposit is Rs. 250/- for 63 months and Rs. 350/- for 84 months.

While all efforts have been made to update the information, constituents are requested to contact the branches for latest details.
 
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