 Monthly
Income Scheme
Safe & sure way to get a regular monthly income.
Specially suited for retired employees/ Senior
Citizens or any one with high sum for investment .
Rate of interest 8%.
10% Bonus on maturity. (withdrawn w.e.f 13th February
2006)
Maturity Period - Six Years.
Post maturity Interest at the rate applicable from
time to time (at present 3.5%)
Auto credit facility to SB Account.
|
Type of Account |
Minimum limit |
Maximum limit |
|
Single |
Rs. 1000/-
|
Rs. 3 lakhs |
|
Joint |
Rs. 1000/- |
Rs. 6 lakhs |
|
Deposit in Monthly Income Scheme and invest interest in
Recurring Deposit to get 10.5% (approx) interest.
Above scheme operates automatically, if you open a saving
bank account and give a request for automatic transfer of
Monthly Income Scheme interest to Recurring Deposit through
Saving Bank account.
|
|
