Interest
8% per annum payable i.e. INR 80/- will be paid every month on a deposit of INR 12000/-.
Investment Limits
In multiples of INR 1500/- Maximum INR 4.5 lakhs in single account and INR 9 lakhs in joint account.
Features
Maturity period is 6 years. Can be prematurely encashed after one year but before 3 years at the discount of 2% of the deposit and after 3 years at the discount of 1% of the deposit. (Discount means deduction from the deposit.) A bonus of 5% on principal amount is admissible on maturity in respect of MIS accounts opened on or after 8.12.07.
Deposit Rs Monthly Interest Amount returned on maturity
5,000 33 5,500
10,000 66 11,000
50,000 333 55,000
1,00,000 667 1,10,000
2,00,000 1,333 2,20,000
3,00,000 2,000 3,30,000
6,00,000 4,000 6,60,000
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