Our Bank is having scheme titled JAN-KARBACHAT THEV YOJANA(JKTY) , wherein deposits placed with the Bank shall be eligible for deduction u/s 80c of the Income Tax Act,1961.
Features of Scheme as under:-
1) Present rate of interest 8.75% per annum effective from 24 July 2015
2) The Deposit should be kept for period of 5 years only.
3) The amount of minimum deposit is Rs.1000/- and multiple of Rs.100/-with
maximum of Rs.100000.00 in a financial year
4) The Deposit can be placed in JKTYMLY, JKTYQLY OR JKTY i.e. with interest payment
monthly, quarterly or cumulative.
5) No premature withdrawal of the deposit shall be permitted.
6) No loan can be availed against the deposit.
7) Interest earned on the deposit shall be subject to TDS.
8) Nomination facility is available
9) No benefit of additional interest is applicable under this scheme for deposits
placed by Senior Citizen / staff/High –Net Worth individuals
The forms are available at our Branches
Submit your application form at the nearest Branch