The scheme intends to provide loans for purchase of new four wheeler vehicles only.Details
General features of DOMESTIC DEPOSIT SCHEMES :
- For Domestic Term Deposits, Tax Deduction at Source is applicable, if the interest income for the financial year exceeds 10,000/- for the customer, unless he/she produces PAN card and Tax exemption certificate/ Form 15G/H.
- Nomination is require_onced for all accounts.
Domestic Savings Bank Account (SB) :
- Interest charged on daily product basis and credited in quarterly rests.
(Present rate is 4%).
- Withdrawls of 1000/- or 10% of the balance outstanding, whichever is higher can be withdrawn on any day.
- Upto 50 withdrawals during a calendar half year is permitted.
- Inoperative charges and minimum balance charges are applicable.
- No TDS.
- Cheque book facility available.
- No frill SB a/c. (i.e., can be opened with zero balance).
- Upto 24 free transactions in a calender year.