These are similar to fixed deposits with a difference being, you deposit a small amount of money every month into this account for a specified duration of time and the bank would compound the interest every month and pay you in lump sum at the end of the tenure. By making regular investment in this scheme you can make provision for your children education or other planned expenses which you wants to incur after specific period.
|Sr. No.||Period||Interest Rate Regular Customer||Interest Rate Senior Citizen||Interest Rate Co-Op. Soc./ Trust|
|1.||From 12 Months To 13 Months||7.00%||7.00%||7.00%|
|2.||From 13 Months To 24 Months||7.50%||8.00%||7.75%|
|3.||From 24 Months To 36 Months||7.50%||8.00%||7.75%|
|4.||From 36 Months to 120 Months||7.50%||8.00%||7.75%|