Monthly Deposit

"Monthly income deposits are a smart financial strategy for individuals looking to manage their finances effectively. This approach involves setting aside a fixed amount of money from one's monthly income into a savings or investment account. This disciplined approach not only ensures a steady flow of savings but also provides an opportunity for wealth accumulation over time. Many financial institutions offer specialized accounts tailored for monthly income deposits, often providing competitive interest rates. This method not only promotes a habit of regular saving but also helps individuals meet their short and long-term financial goals. Whether it's building an emergency fund, planning for a major purchase, or investing for the future, monthly income deposits serve as a foundation for sound financial planning, providing individuals with a sense of financial security and stability.".

FEATURES & BENEFITS

This consistency fosters a disciplined saving habit, ensuring that a portion of income is saved each month

This stability is particularly beneficial during unexpected expenses or emergencies, providing a financial safety net.

The accrued interest helps grow the depositd amount over time, enhancing overall savings and potential returns.

Ease of Budgeting

Monthly Deposit Interest Rate

Amount 1 Year ( 8% ) 2 Year ( 8.5% ) 3 Year ( 9% ) 4 Year ( 9.5% ) 5 Year ( 10% )
500 6266 13122 20730 29288 39041
1000 12532 26245 41461 58577 78082
2000 25065 52490 82922 117155 156164
3000 37598 78735 124384 175733 234247
5000 62664 131225 207306 292888 390411
10000 125329 262450 414613 585777 780823
20000 250658 524900 829227 1171555 1561647

Terms & conditions:-

  • Minimum amount will be Rs. 10000/- and then in the multiple of Rs. 1000/-
  • Loan on this deposit will be till 90% with 3 % additional interest on fixed deposits
  • Fixed deposit withdrawal can be done only after 6 months
  • Premature interest will be 2% lower than the prevailing interest rate for the period of deposit at the time of making the fixed deposit.
  • Premature payment is not applicable for the deposit having tenure less than 1 year.