Saving Bank Gold Scheme is a type of deposit scheme best suited for individuals, companies, clubs, associations etc.
Features
| Eligibility | · Individuals
· Joint Account · Minor accounts · Illiterates · Hindu Undivided Family · Non-corporate Bodies · Clubs · Societies · Associations · Schools, Trusts, Executors/Administrators, Govt. Bodies, Semi-Govt Bodies · Capital Gain Accounts · Departments recognised PF Accounts. |
| Initial Deposit | The initial deposit minimum amount is Rs 50,000 |
| Monthly Average Balance | The minimum monthly average balance that has to be maintained is Rs 50,000 |
| Interest Rate | The present interest rate is 4% |
| Interest Payment | The interest is paid on a half-yearly basis |
| TDS | Not applicable |
| Nomination facility | Available |
| Loan Against Deposit | Not permitted |
| Demand Draft Facility | Demand Draft facility i savailable under 50% concession i.e. Rs 1/1000 or part thereafter. |
| NEFT/RTGS | Available under 50% concession |
| Debit Card | Free (as per bank rules) |
| Sweep In/Out Facility | Sweep-in facility is available into term deposit if the amount exceeds Rs 1 lac at the consent of the depositor |
| Non-maintenance Charges | If the minimum balance is not maintained then the concession provided under this scheme will be eliminated by sending a notice to teh depositor. |
| Documents Required | · Appliaction
· Applicants signature card · Copy of PAN/Form 60 or 61 (in case no PAN card) · 2 passport size photograph · Address Proof · Identity Proof · Any other related documents applicable to students, Minores, Trusts and HUF’s. |
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