MTS Nidhi Suvidha FD Scheme

MTS Nidhi Suvidha FD Scheme

A product offering a combination of competitive interests as well as easy liquidity. A convenient way of utilising your deposits giving you the best of both, long-term as well as short-term deposit plans.

Key Benefits:

• A highly flexible product, which works to your needs, always.
• Offers dual advantage of attractive rate of interest as well as flexible withdrawal limit.
• Provision for nomination.
• Part of the amount can be prepaid, minimum-1-unit and the balance deposit after withdrawal will continue to earn stipulated interest.
• A deposit product that keeps your money safe, ensures good returns and provides you with a choice to withdraw as per your needs.
• An additional 0.50% interest for senior citizens (applicable only for deposits of Rs. 10000/- and above).
• Unlike a fixed deposit, where the money is locked up for long periods of time, BoB Suvidha Fixed Deposit Scheme is a flexible fixed deposit option.
• Avail loans of up to 95% of the fixed deposit value (Principal amount + accrued interest credited to the account).

Terms & Conditions

• Minimum amount required to open an account - Rs. 5000/- (deemed as 5 units of Rs. 1000/- each).
• Subsequent deposits in multiples of Rs.1000/-.
• Deposit Tenure:
  • Minimum - 12 months
  • Maximum - 60 months.
• Interest will be compounded quarterly & credited to your account half yearly.
• 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).
• Documents required:
  • Passport size photograph
  • Proof of residence
  • An Introduction as per mts's norms