Availability of the Scheme

At all our Domestic CBS and CIBEX Branches

Eligibility

Individuals & Joint Accounts (IncludingMinors).

Nomination Facility

Available

Minimum amount of Monthly Instalments

Rs.1000/- will be Minimum Core Monthly Instalment.

Maximum amount of Monthly Instalments

Rs.10,000/- will be the Maximum core Monthly Instalment.

Flexi Instalment

Any amount in multiples of Rs.1,000/-.(Only one core & one flexi instalment per month). Maximum flexi instalment can be 10 times the core instalment.

Period

Minimum 12 months. Maximum 10 years. (In multiples of 3 months only)

Interest Rate: Core Instalments (Fixed Rate) Flexible Instalments

As applicable for the period for which the A/c is opened. Applicable rate at the time of deposit of the Flexible instalment.*

Penalty

As per applicable rules for delay / non-receipt of core instalments.

Maturity Value

Will be calculated by the System, depending on the amount of flexi instalments; no fixed Maturity Value

Loan, OD and Advances

Permitted as per existingrules

Tax treatment

No TDS (R/D Accounts are exempted from TDS as per present rules.)

Other terms and conditions

As applicable to existing RD Scheme. No advance core instalments. Amount deposited above core instalments will be considered as Flexi instalments for that month. Standing Instructions will be accepted only for the core instalments.