You want your children to have the best education possible, yet school and university expenses and fees can be costly. The money you spend on your kids’ education could be one of your family’s biggest expenses.
Starting to save early will help your children have a high-quality learning experience.
Features & Benefits:
- A person having a sound mind can open the scheme singly or jointly.
- Education Deposit Scheme is a deposit product where you can make an initial deposit at the beginning along with fixed monthly installment deposits.
- The account holder can avail credit facility up to maximum 90{98b3a72ee58f083be5cba22976bae95ef3c090c904d629387525f3b9814234bc} of the deposit amount against lien on the balance amount of the respective account at 2.00{98b3a72ee58f083be5cba22976bae95ef3c090c904d629387525f3b9814234bc} higher than the deposit scheme rate after completion of 1(One) year.
- Premature encashment may be allowed only after expiry of minimum 3 (three) months. In such cases, interest will be calculated at least 2.00{98b3a72ee58f083be5cba22976bae95ef3c090c904d629387525f3b9814234bc} less than the prescribed rate, which will be applicable for the period completed.
- The interest is payable subject to deduction of excise duty, withholding tax etc. as imposed by the government from time to time.
