Freedom growth

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It is a fixed deposit scheme with basic features of lump sum deposit for a fixed period and on maturity principal amount with interest on quarterly compound basis will be paid

Features

  • Minimum amount of deposit : Rs.10,000/-
  • Maximum amount : No limit
  • Minimum period of deposit : six months
  •  Maximum period of deposit : 10 years
  • Interest rates : as applicable to fixed deposit rates on quarterly compound basis.
  •  No interest shall be payable for premature payment before one month
  • Pre-closure penalty of 0.50% on applicable period interest rate
  • Loan facility up to 90% of face value plus accrued interest subject to the terms and conditions
  • Nomination facility available
  •  Flexibility to convert into Freedom Regular income scheme subject to same contracted period from the date of conversion
  • Maturity amount exceeding Rs. 20,000/- and above will not be paid in cash.
  • No TDS. PAN copy/Form 60/ Form 15 G/ Form 15 H will be obtained
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