Interest Rates
Interest payable annually but calculated on quarterly basis (with
effect from
01.03.2003)
|
Account |
Rates of interest |
|
1 year Account |
6.25 % |
|
2 year Account |
6.5 % |
|
3 year Account |
7.25 % |
|
5 year Account |
7.5 % |
Investment
Limits & Denominations
Minimum Rs. 200/- and it's multiples.
No maximum limit.
Features
Account may be opened by an individual, Trust, Regimental Fund and
Welfare Fund.
2, 3 and 5 year accounts can be closed after one year at a
discount.
Account can be closed after 6 months but before 1 year without
interest.
Tax
Rebate
The amount of interest earned is tax free under Section 80-L of
Income Tax Act.
|
