Kar Mukta Yojana Pmc Bank

Hello sir, is there any one can show me here detail about the Kar-Mukt Yojna' Term Deposit Scheme of Punjab & Maharashtra Co-operative Bank?

The Punjab & Maharashtra Co-operative Bank is provides detail of Kar-Mukt Yojna' Term Deposit Scheme for to claim benefit under Section 80C up to a maximum of Rs. 1.50 Lakhs) for the period of 5 years.

Interest on Savings Bank A/c @ 4.00 % p.a

Interest on term deposits to be paid Monthly, Quarterly, Half-yearly, & re-invested by quaterly compounding

Your Deposits are insured up to Rs. 1 Lakh per depositor by Deposits Insurance and Credit Guarantee Corporation, Government of India undertaking.

Detail of PMCB Kar-Mukt Yojna' Term Deposit Scheme:

To claim benefit under Section 80C up to a maximum of Rs. 1.50 Lakhs) for the period of 5 years:

Scheme General Public Senior Citizen
Reinvestment - 7.25% 7.50%
Quarterly Interest

Fixed Deposit - 7.25% 7.50%
quarterly interest

For domestic deposits - Less than Rs. 25 lakh:

Maturity Period Deposit Amount Interest Rate (% p.a.)
General Senior Citizen

7 days to 14 days Less than Rs. 25 lakh 4 4
15 days to 60 days Less than Rs. 25 lakh 5 5
61 days to 90 days Less than Rs. 25 lakh 5 5
91 days to 180 days Less than Rs. 25 lakh 5.5 5.5
181 days to 270 days Less than Rs. 25 lakh 6 6
271 days to less than 1years Less than Rs. 25 lakh 7
12 months to 36 months Less than Rs. 25 lakh 7.5 7.75
13 months Less than Rs. 25 lakh 7.75 8
37 months to 60 months Less than Rs. 25 lakh 7.25 7.5
61 months to 120 months Less than Rs. 25 lakh 7 7.25

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Answered By StudyChaCha Member