Quarterly Interest Deposit Scheme
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The Fixed Deposit Scheme you're referring to seems to offer attractive benefits to both senior
citizens and bulk depositors. Here's a clearer breakdown of the key features:
Key Features:
- Quarterly Interest Payout: This scheme provides quarterly interest payments to deposit holders, which is helpful for individuals looking for regular income.
- Additional Interest for Senior Citizens: Senior citizens receive an extra 0.50% per annum on the interest rate, making it a more beneficial option for elderly depositors.
- Additional Interest for Bulk Depositors: For those depositing a lump sum amount of Rs.15 lakhs or more for a tenure of 12 months or more, the scheme offers an additional 0.15% per annum on the interest rate. This is a benefit for individuals or institutions making large deposits.