Kar-Bachat Scheme

A dual benefit Fixed Deposit scheme with tax saving and high yield on investments.

All you need to know

Period of Deposit Five Years
Rate of Interest As per ROI of regular deposit for the applicable period i.e. 60 months.
Eligible Depositors Single Individual / Joint Deposit (Not More than two individuals as Joint Holders) / HUF
Interest Payment 1.Quarterly
Maximum Amount of Deposit Rs. 1,50,000/- (Rs.One Lakh Fifty Thousand Only) Any Individual as a single depositor or bearing first name in the joint deposit can invest total amount not exceeding Rs.1,50,000/- under this scheme
Minimum Amount of Deposit Rs. 5,000/- and in multiples of Rs. 1,000/-
Details to be printed on deposit receipt As mentioned in the notifications, the deposit receipt will bear details such as name,address, PAN no, signature of the depositor etc.
Pledging in the Deposit The deposit under the scheme can not be pledged to secure loan or security to any funding / non funding credit facility for any other purpose
Premature withdrawal Not allowed for this scheme
Additional Interest Rate for Senior Citizen Not Additional rate for this scheme
Benefits Higher Yield + Tax Benefit
Deposit Insurance
The Deposit Insurance System in India is subject to the Provisions of Deposit Insurance Act (enacted in 1961). Deposit Insurance and Credit Guarantee Corporation (Wholly owned subsidiary of the Reserve Bank of India) is the body that operates the deposit insurance system.

To download more information click the following link : DICGC
(Website : www.dicgc.org.in )

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