VIKAS TAX ULITAYA
Investment in these term deposits will be eligible for the purpose of tax benefit under Sec. 80(C), subject to the overall ceiling of Rs.1.5 lakh.
- Eligibility: Individuals/HUF eligible to open an account with the Bank
- Minimum Deposit: Rs.100/- and multiples thereof up to a maximum of Rs.1.5 lakh in a year
- Tenure – Minimum of 5 years.
- Term Deposits under this scheme are not eligible for pledge to secure loan or as security to any other asset, LD/ODD shall not be available to the depositors on the deposits.
- No premature withdrawal