Interest rates Effective From 1st feb, 2014
MIS is a product where in you invest up front to get the return every month till the end of the tenure of the respective MIS. MIS products are available for tenures ranging from 1 Year, 2 Years, 3 Years, 4 Years, 5 Years and 6 Years giving returns of 10.50% p.a., 11% p.a., 11.50% p.a., 11.50% p.a., 12.00% p.a. and 12.00% per annum respectively.
|Period||General Rate of Interest
|Special Rate of Interest
TERMS & CONDITIONS
- Minimum investment in MIP would be of Rs. 10,000 and further in multiple of Rs. 1,000.
- Special rate of interest in MIP is applicable only for Senior citizens, Govt. Employee, and Pensioners.
- TDS is not applicable on the Interest paid by ACCSL
- 70% loan of deposit would be available.
- 5% higher interest on applicable rate of interest would be charged on loan against deposits..
- WITHDRAWAL BEFORE MATURITY: -
|1 Year Deposit Plan||No premature withdrawal facility is available.|
|2-6 Year Deposit Plan||After 1 year, one can go for premature payment facility. In this case the Calculation of interest on premature payment will be applicable as per saving a/c's rate of interest and already paid interest amount will be deducted from the principal amount.|
In case of death of member customer payment would be paid to the legal heirs or to the nominee on claim. No
7. Interest would be paid till date of death if legal heirs or nominee make a request for
continue of the deposit in their name on proper documents.