Navarathnamala Deposit Scheme : Tamilnad Mercantile Bank
Name of the Organisation : Tamilnad Mercantile Bank
Type of Facility: Navarathnamala Deposit Scheme
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Home Page :http://www.tmb.in/recurring_navarathnamala/our_most_popular_recurring_deposit_scheme.html
Download here :https://www.statusin.in/uploads/864-term_deposits_01.pdf
our most popular recurring deposit scheme A unique mixture of monthly savings and reinvestment plans, suitable for people of all walks of life. Plan for your children’s higher education and marriage expenses by joining in the Navarathnamala Deposit Scheme today.
Related : Open Savings Account TMB : www.statusin.in/2216.html
It offers attractive returns on investments with compounded interest for entire duration.
Instalment can be remitted for 36 / 48 / 60 months. Account can be opened for either 60 months with 36 months instalments plus 24 months reinvestment period or 120 months with 36 / 48 / 60 months instalments period plus 84 / 72 / 60 months reinvestment period respectively.
Product Highlights :
** The Scheme is open to all Indian Citizens of above the age of 18 years.
** Accounts in the name of Minor Children can be opened by their parents, as natural guardian.
** 5 years NMD – Rate of interest is 9.00% p.a. For Senior Citizens, its 9.50% p.a.
** 10 years NMD – Rate of interest is 9.00% p.a. For Senior Citizens, its 9.50% p.a.
** Lump Sum repayment of Rs. 10,000.00, Rs. 20,000.00, Rs. 30,000.00, Rs. 50,000.00 & Rs. 1,00,000.00 etc.
** Joint Accounts can be opened.
** Scheme is open to Individuals, HUF, Partnership Firms, Company, Trusts and Associations, etc.
** Scheme is also open to Non Resident Individuals. NRE accounts are fully exempted from the provisions of TDS.
** A single person / entity can open any number of Navarathnamala accounts.
** Standing Instruction / ECS facility available.
** Nomination facility available.
** Pre-closure facility is available.
** Loan against the deposited amount is available. Further, the deposit amount can also be offered as security for other credit facilities.
** Form 15 G/H can be submitted for exemption from TDS.
10 Year Maturity Navarathnamala RD Returns Table Calculator for General Public :
** Monthly Instalments Payable
** only upto period of Repayable amount after 10 years from date of opening
** 36 Months 48 Months 60 Months Maturity Amount
** General Public Interest Rate AT 9.00% p.a. compounded quarterly.
** All figures above are nearest approximate for illustration. Visit our nearest branch for accurate investment & maturity details.
** Interest Rates as updated on Feb 02, 2015 and are subject to change without notice.
Monthly Instalments Payable only upto period of :
Rs. 129.50 Rs. 101.50 Rs. 84.50 Rs. 10,000.00
Rs. 259.00 Rs. 203.00 Rs. 169.00 Rs. 20,000.00
Rs. 388.50 Rs. 304.50 Rs. 253.50 Rs. 30,000.00
Rs. 647.50 Rs. 507.50 Rs. 422.50 Rs. 50,000.00
Rs. 1,295.00 Rs. 1,015.00 Rs. 845.00 Rs.
Rs. 6,475.00 Rs. 5,075.00 Rs. 4,225.00
Rs. 12,950.00 Rs. 10,150.00 Rs. 8,450.00
** 10 Year Maturity Navarathnamala RD Returns Table Calculator for Senior Citizens :
** Monthly Instalments Payable
** only upto period of Repayable amount after 10 years from date of opening
** 36 Months 48 Months 60 Months Maturity Amount