This scheme is targeted at those individuals who want to have small saving but at regular intervals. It also caters to the need of persons with fluctuating income e.g. self-employed, professionals or person engaged in seasonal occupation especially in rural and semi-urban areas. Persons having fixed income but variable surplus can also take advantage of it.
Rs 100/- per month Base Amount or above in its multiples (no maximum limit)
Period: 12 months to 120 months in the multiples of 3 months
As per Normal FD Rate
- To cater to people who have the habit to save in regular basis and avail the bulk sum at the end with the high yielding interest rate.
- The Depositors have the flexibility to deposit in multiple of base deposit at his/her desired time intervals up to 10 times in a month.
- Premature withdrawal allowed.
- Loan available up to 90% of the deposited amount at 2% higher rate than the published interest rate.
- If the installment (i.e. base amount) isn’t deposited every month, the depositor will receive interest as per the rate of normal saving account at the time of payment of the maturity value.