IND Mahila Shakti – 555 Days
IND Mahila Shakti – 555 Days
To commensurate with International Women’s Day celebrations on 08.03.2022, Bank is glad to announce launch of the New Fixed Maturity Term Deposit Products “IND Mahila Shakti – 555 Days” for women customers and employees, having fixed maturity tenor of 555 days with Special rate of interest in the form of MMD.
This new product is a mark of Bank’s acknowledgment of Patronage of Women Customers, being one of the potential segments, that plays a crucial role in Bank’s long term vision and growth.
The salient features of the scheme are detailed here under:
| TARGET CUSTOMERS | · Deposit is available for any girl/woman (student/working/homemaker/professional) of age 18 years and above
· Retired & Working Female Employees of our bank. · In the case of the joint holder, the female is to be the primary beneficiary, and the other holder can be a male/female. · The maximum number of joint account holders allowed is three. · Two persons with any one of the following clauses: A. Jointly B. Either or Survivor C. Former or Survivor More than two persons either (a) jointly or (b) anyone or the survivor(s) of them |
| DEPOSIT AMOUNT | Minimum – ₹1000/-
Maximum – less than ₹2 Crore (Rupees Two crore only) Bulk deposits of ₹2 crore & above are not eligible. |
| TENOR OFFERED | 555 days |
| Rate of Interest | 5.15 % p.a. |
| ADDITIONAL INTEREST FOR SENIOR CITIZENS (WOMEN) | Additional interest of 0.50% p.a. payable over & above the card rate
|
| NOMINATION FACILITY | Available |
| ROLL OVER OPTION | Available
The maturity amount will fetch the interest rate applicable in the tenor bucket of more than 1 year to less than 2 years, prevailing at the time of maturity. |
| PRE CLOSURE FACILITY | Available |
| PRE CLOSURE PENALTY | For premature closure, penalty will be levied as per extant guidelines. |
| LOAN AGAINST DEPOSIT | Loans may be granted at the discretion of the bank, as per the bank extant guidelines on loan against deposits. |
| TDS | As applicable |
| 15G /15H | Wherever eligible can be submitted in branch or online. |
| ANY OTHER INFORMATION RELEVANT TO THE PRODUCT | · Scheme Extended up to 30/06/2022.
· The account should be fully KYC compliant. Valid PAN/Form-60 should be obtained wherever applicable. · 25% discount on locker rental on lockers of small size(subject to availability of lockers) for the first year for the holder maintaining minimum deposit of Rs.5 Lacs under this product. · Locker may be held jointly but first name in locker account should be of the primary account holder. |
( Last modified on May 23, 2022 at 10:05:47 AM )
