Suitable to monthly earning people. The instalment can be paid by cheque or through transfer from other bank accounts, or transfer from Fixed deposit interest and also by cash.
The minimum period is for 12 months and maximum period is 60 months.
The pre closure procedure is as applicable for Fixed deposit.
Interest is calculated on quarterly compounding method.
Maturity amount can be credited to the account with any bank at FREE of charges.
No TDS for interest up to Rs.40000/- p.a.