Monthly Deposit

"Monthly income deposits are a smart financial strategy for individuals looking to manage their finances effectively. This approach involves setting aside a fixed amount of money from one's monthly income into a savings or investment account. This disciplined approach not only ensures a steady flow of savings but also provides an opportunity for wealth accumulation over time. Many financial institutions offer specialized accounts tailored for monthly income deposits, often providing competitive interest rates. This method not only promotes a habit of regular saving but also helps individuals meet their short and long-term financial goals. Whether it's building an emergency fund, planning for a major purchase, or investing for the future, monthly income deposits serve as a foundation for sound financial planning, providing individuals with a sense of financial security and stability.".

FEATURES & BENEFITS

This consistency fosters a disciplined saving habit, ensuring that a portion of income is saved each month

This stability is particularly beneficial during unexpected expenses or emergencies, providing a financial safety net.

The accrued interest helps grow the depositd amount over time, enhancing overall savings and potential returns.

Ease of Budgeting

Monthly Deposit Interest Rate

Deposite Amount 60 Month ( 10.50% ) 84 Month ( 11.50% ) 120 Month ( 12% )
10000000 87500 91667 100000
5000000 43750 45833 50000
2500000 21875 22917 25000
2500000 8750 9167 10000
500000 4775 4583 5000
500000 1750 1833 2000
100000 875 877 2000

Terms & conditions:-

  • Minimum amount will be Rs. 10000/- and then in the multiple of Rs. 1000/-
  • Loan on this deposit will be till 90% with 3 % additional interest on fixed deposits
  • Fixed deposit withdrawal can be done only after 6 months
  • Premature interest will be 2% lower than the prevailing interest rate for the period of deposit at the time of making the fixed deposit.
  • Premature payment is not applicable for the deposit having tenure less than 1 year.