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NHB SUVRIDDHI (Tax Saving ) Term Deposit Scheme

 
NHB SUVRIDDHI (Tax Saving ) Term Deposit Scheme
Notice: Discontinuation of Term Deposit Schemes

SALIENT FEATURES:-

1. Interest Rate: (p.a)
w.e.f. 05/12/2016

Duration of Deposit Interest Rate (%) ** Annualised Return (%)
60 Months

7.00

7.71

For Senior Citizens: Additional rate of 0.60% p.a
Duration of Deposit Interest Rate (%)** Annualised Return (%)
60 Months

7.60

7.82

##Interest rates offered above are w.e.f. 05/12/2016 and computed on quarterly compounding basis.

2. Deposit Amount:  Minimum of Rs. 10,000 and higher in multiples thereof up to maximum of Rs. 1,00,000/- per financial year.

3. Who can deposit: Individuals / HUF

4. Interest option under the Scheme: Cumulative Interest Option / Non- Cumulative Interest Option.

5. Tax Benefit under Section 80C- Notified by CBDT published in Extraordinary Gazette of India dated 5th January, 2009 S.O.21 (E).

6. Nomination: Available

7. TDS on interest: Deduction of Income-tax at source from interest payments will be governed by the provisions of the Income Tax Act, 1961, as in force from time to time, and the rules frame there under. As per the present provisions U/S 194A of the Income Tax Act, 1961, interest upto Rs. 5000/- in a financial year is exempt from deduction of tax at source.

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How to deposit:

For further details or clarification please contact us at:
(Phone No. 011-24649031-35) or Email at fd@nhb.org.in