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Bank of India Star Sunidhi Tax Saving Deposit Scheme Details

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Star Sunidhi Tax-Saving Deposit Scheme of Bank of India is for long term savings investments, with Income Tax Benefits..

Eligibility

 Individuals & HUFs having PAN Numbers
Minimum Deposit Rs.10,000/-
Maximum Deposit Rs.1,50,000/- p.a.
Type of Deposit FDR/MIC/QIC/DBD
Tenure Minimum-5 years
Maximum-Upto & including 10 years
Rate of interest As applicable to our normal domestic term deposits
Premature withdrawal Not Permitted upto 5 years.
Applicability All branches in India
Nomination Facility Available
Advance Facility Not available for a period of 5 years from The Date of Deposit
Other Benefits Tax Exemption u/s 80c of the Income Tax Act
Other Terms and Conditions
  1. In the case of Joint Accounts,only the first named Depositor will be eligible for deduction under Section 80c of the Income Tax Act.
  2. No nomination shall be made in respect of aTerm Deposit applied for and held by or onbehalf of a Minor.
  3. The Term Deposit shall not be pledged tosecure a loan or as security to any other advance.
  4. Other terms and conditions as applicable to normal Term Deposits.

Source: Bank of India Official Website

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