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Last Updated on 07/11/2019
Multiple Deposits-MDA-Plan I

Eligibility

Individuals including Salaried people, professionals, business people etc.

Minimum Deposit Amount: Rs. 100 and in multiples of Rs. 5/-

Minimum & Maximum Period: 6 Months to 120 Months

Payment of Interest: Quarterly compounding and paid at the time of maturity

Remarks:

  • Each remittance is accepted for identical period
  • The amount of the deposit the customer wishes to deposit, held as different
  • Remittances under the same MDA
  • The depositor has the option of making any number of deposits under the same account and each remittance will be deemed as a separate deposit maturing after the agreed period
  • Separate deposit receipt is not issued for each deposit but a pass book is issued showing each remittance with interest rate, due date and maturity value.