Tax Saving Deposit Scheme (Int. Rate 7.75%p.a.)
· Scheme for individual (Single or Jointly) & for HUF also.
· TDS exemption available u/s. 80 C of IT Act.
· Duration for at least 5 years or maximum for 10 yrs.
· No loans available against this scheme rule.
· TDS rule wherever applicable.
· Every deposit in multiple of Rs. 100/-
· Int. paid monthly, quarterly & yearly.
· Nomination facility available.
· Above rates are common for all types of depositors including bank staff i.e., 7.75% p.a.
· Rate for Senior Citizens is 8.25% p.a.
· No premature withdrawal allowed.