Our Bank is having scheme titled JAN KARBACHAT THEV YOJANA (JKTY), wherein deposits placed under the scheme shall be eligible for deduction under section 80C of the Income Tax Act, 1961.We are having following schems-
The Deposit should be kept for a period 5 years.
The minimum amount of deposit is Rs.1,000/- and in multiple of Rs.100/-with maximum of Rs.1,00,000/- in a financial year.
No premature withdrawal of the deposit shall be permitted.
No loan can be availed against the deposit.
Interest earned on the deposit shall be subject to TDS.
Nomination facility is available.