Quarterly Income Scheme |
 |
Cumulative Deposit Scheme |
Period
Months
|
Minimum Amount
Rs. |
Interest Rate p.a. |
12 |
10,000/- |
8.00% |
24 |
10,000/- |
8.50% |
36 |
10,000/- |
9.00% |
| |
|
|
Interest payable on
quarterly basis |
|
Period Month
|
Minimum Amount Rs. |
Rate of Interest p.a. |
Annual yield
p.a.
|
Maturity amt. for Rs. 10,000/- |
6 |
10,000/- |
8.00% |
8.00% |
10,400/- |
12 |
10,000/- |
8.75% |
8.75% |
10,875/- |
24 |
10,000/- |
9.00% |
9.41% |
11,882/- |
36 |
10,000/- |
9.50% |
10.43% |
13,129/- |
Interest compounded on yearly basis and
payable on maturity |
|
| Additional amount will be accepted in multiples of Rs. 1000/- under both the scheme |
The minimum amount under Cumulative Deposit Scheme increased from Rs. 5,000/- to Rs. 10,000/- w.e.f. 1 st June 2004.
The above scheme is applicable for those deposits, which are matured & renewed on or after 1 st June 2004 and fresh deposit accepted on or after 1 st June 2004. However, Company is not accepting fresh deposit, at present.
Only the Principal Amount of fixed deposit will be renewed.
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