Are you looking for a smart and secure way to grow your savings? Look no further than the Uttar Bihar Gramin Bank’s 555 Days GRAMIN SUPER DEPOSIT SCHEME. Let’s break it down without the financial jargon.
Table of Contents
Eligibility
- Individuals and joint account holders, including minors (above 10 years), are eligible for this scheme.
Interest Rates
- The interest rate is determined according to the prevailing rates at the time of investment.
Additional Interest Rates
- Senior citizens enjoy an additional 0.5% interest rate, while staff, former staff, and their widows/widowers receive an extra 1.0%.
Deposit Tenure
- The deposit tenure for this scheme is 555 days.
Interest Calculation
- Interest is compounded quarterly, helping your savings grow steadily.
Minimum Deposit Amount
- You can start with a minimum deposit of ₹1,000.
Maximum Deposit Amount
- There’s no upper limit (multiples of ₹1,000).
Premature Withdrawal
- Premature withdrawal is allowed with applicable interest rate reductions as per MMDC (Modified Mudarabah Deposit Certificate) norms.
Loan Against Deposit
- You can avail a loan of up to 90% of your deposit amount, including interest.
TDS on Interest
- TDS (Tax Deducted at Source) applies as per income tax rules.
Nomination Facility
- Nomination facilities are available, except for minor accounts.
The Uttar Bihar Gramin Bank‘s 555 Days GRAMIN SUPER DEPOSIT SCHEME is a fantastic way to maximize your savings. Start building your financial future today!
