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Eligibility |
Individuals including Salaried people, professionals, business people etc. |
Minimum Deposit Amount |
Rs. 100/- and in Multiples of Rs. 5/- |
Minimum & Maximum Period |
6 Months to 120 Months |
Payment of Interest |
Quarterly compounding and paid at the time of maturity |
Remarks |
- Each remittance is accepted for identical period
- The amount of the deposit the customer wishes to deposit, held as different
- Remittances under the same MDA
- The depositor has the option of making any number of deposits under the same account and each remittance will be deemed as a separate deposit maturing after the agreed period
- Separate deposit receipt is not issued for each deposit but a passbook is issued showing each remittance with interest rate, due date and maturity value.
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Eligibility |
Individuals either singly or jointly with two or more persons, institutions, companies, firms, societies, Traders, Professionals, salaried individuals etc. |
Minimum Deposit Amount |
Minimum deposit amount Rs. 10000/- and in multiples of Rs. 1000/- |
Minimum & Maximum Period |
6 Months to 120 Months |
Payment of Interest |
Quarterly compounding and paid at the time of maturity |
Remarks |
- Each remittance is accepted for identical period
- The amount of the deposit the customer wishes to deposit, may be split into convenient units and held as different remittances under the same MDA
- The depositor has the option of making any number of deposits under the same account and each remittance will be deemed as a separate deposit
- Maturing after the agreed period
- Separate deposit receipt is not issued for each deposit but a passbook is issued showing each remittance with interest rate, due date and maturity value
- If the depositor wants to take back a part of his deposit amount the required number of units can be closed and repaid while the remaining amount remains intact and earns interest.
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