MTS ACCES SAVING SCHEME

MTS NIDHI ACCES SAVING SCHEME

MTS NIDHI's Fast Access Deposit is a prudent way to security, liquidity and relief. The plan provides you with the facility of overdrawing your account up to 95% of your deposits.

Join this deposit product with a minimum deposit of Rs. 10,000/-
Add to this, in multiples of Rs. 1,000/- (under RIRD plan)

Key Benefits:

• Loan/Overdraft facility up to 80% the deposit amount right from day one.
• No additional documentation for availing overdraft
• An additional 0.50% interest for senior citizens.
• Provision for nomination.

Terms & Conditions

• Minimum amount required to open an account - Rs. 10,000/-.
• Subsequent deposits in multiples of Rs. 1000 (under RIRD plan).
• Deposit Tenure:
  • Minimum - 12 months.
  • Maximum – 60 MONTHS
• Interest will be compounded quarterly depending upon the maturity period of the deposit.
• No penalty for premature payment will be levied in case of premature payment of deposits up to Rs. 5 Lakhs provided it remained with the Mts for a minimum period of 12 months.
• On pre-matured withdrawal of your deposits amount, interest will be calculated at 1% below the rate applicable for the period of deposits.
• Interest payments are subject to TDS (Tax Deducted at Source).
• Opening of a current account is mandatory.
• Documents required:
  • Passport size photograph
  • Proof of residence
  • An Introduction as per mts's norms