The scheme intends to provide loans for purchase of new four wheeler vehicles only.Details
Tax Saver Deposits
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.
Gramin Tax Saver Deposit (Term Deposit Account)
- Benefits of Section 80 C of the I.T Act 1961 extended to this deposit
- Investment upto Rs.1.50 Lakh deductible from Income under Section 80C of the I.T. Act 1961
- Scheme available to individuals/firms/Institutions
- Fixed period of 5 years. No before maturity closure.
- No loans against the pledge of deposit
- Not accepted as security/collateral security to any loan.