A unique product which offers higher rate of interest alongwith tax benefits.Specially designed to cater to the needs of the Income Tax assessees.The distinctive features of this scheme are as below:
Purpose : To enable customers to place long term deposits to earn higher rate of interest and also to avail the tax benefits under section 80C of Income Tax Act, 1961.
Eligibility : Resident assessee for himself/ herself as an individual or in the capacity of the Karta of the Hindu undivided family, having Income tax Permanent Account Number
Mode of Operation : Singly or Jointly
Minimum Deposit : Rs. 1,000/- or multiples thereof
Maximum Deposit : Not exceeding Rs. 1,00,000/- in a year
Type of account : Term Deposit (TD) account / Special Term Deposit (STD) account
Tenure : Minimum: 5 years - Maximum: 10 years
Rate of Interest : General Public – 8.00%
Senior Citizens – 0.50% above the rate applicable to general public i.e. 8.50%
Premature withdrawal : No term deposit shall be encashed before the expiry of five years from the date of its receipt.
Availability : Presently at CBS Branches
Nomination Facility : Available
Loan Facility : Not Available
Transferability : among branches Allowed
3 comments:
It is a good one. I even got to know about Capital gain Bonds from my dad. As I am growing up, I have started showing keen interest in investments and financial planning. I have understood how much important it is to not only save but also invest.
How to close thise account
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