Are you looking for a smart and accessible way to build your savings? UBGB’s GRAMIN LAKHPATI RECURRING DEPOSIT SCHEME could be the answer you’ve been searching for. Let’s delve into the details of this scheme without any financial jargon.
Table of Contents
Eligibility
- You can open an account individually or jointly.
- It’s available for both adults and minors (aged 10 years and above).
Interest Rates
- 5% for general accounts.
Extra Intrests
- For senior citizen: 1%
- For staff, ex-staff, and staff’s widows/widowers: 1.0%
- For ex-staff senior citizens: 1.5%
- Additional interest rates are applicable based on the prevailing rates for the deposit period.
Taxation
- No tax is applicable on the interest earned.
Loan, Overdraft, and Advance
- You can avail up to 90% of your deposit amount as a loan, overdraft, or advance.
Nomination
- Nomination facility is available for both single and joint accounts.
Deposit Procedure
- You can deposit your instalments in cash, through transfers, or by giving standing instructions.
Maturity Periods
- Choose from flexible maturity periods of 12, 24, 36, 48, or 60 months.
Interest on Premature Closure
- No penalty or deduction for premature closure.
Interest Calculation
- Interest is compounded quarterly.
UBGB’s GRAMIN LAKHPATI RECURRING DEPOSIT SCHEME is a simple yet lucrative way to grow your savings. Whether you’re an individual or a family, this scheme offers flexibility, attractive interest rates, and tax benefits. Start your journey towards financial prosperity with UBGB today!