FEATURES OF MONTHLY INCOME SCHEME
No limit for maximum amount
No age limit
ROI between 5.5% to 8.5%
1️⃣ BENEFITS
- Simple investment product which offers income, safety and flexibility.
- No limit forMaximum period of deposit.
- No limit for maximum deposit amount.
- Option of premature/partial withdrawal in case of any urgent funds’ requirement without penalty.
- Minimum period of deposit : 1 year
2️⃣ RATE OF INTEREST
- ROI for 1 year is 10% (i.e Rs. 833 per month for 1 lakh ) & ROI for above 36 months is 11 %(i.e.Rs. 917 per month for 1 lakh )
- 0.5% extra ROI for senior citizen.
3️⃣ ELIGIBILITY
- Any individual who is resident of India.
- No age limit.
4️⃣ DOCUMENT REQUIRED
- Identity Proof of depositor.
- Address proof of depositor.
- In case of minor, guardian’s documents & signature is required.
5️⃣ PLEGDING OF DEPOSITS
- Pledging of deposit is 80% of FD amount.