Monthly Income Plan

Features

  • Provides you with regular monthly income.
  • Monthly interest is directly credited to your bank account through ECS.
  • Ideal for retired people, housewives and senior citizens.
  • Available in Fixed and Variable Interest Rates
  • NRIs can place deposit for a maximum period of 36 months.

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For Resident Indians:

This product is available for all Resident Indians and Minors through their guardians.

For Non Resident Indians:

This product is available for all Non- Resident Indians. Deposits from Non-Resident Indians and Persons of Indian Origin residing outside India would be accepted in accordance with the regulations governing the acceptance of deposits from NRIs, for a maximum period of 3 years. Payment of interest and the repayment of deposit shall be made only by credit to NRO account. NRIs can avail benefit of the lower rate of tax under the DTAA by submitting a declaration every year.

See the definition of NRI here.

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