MONTHLY INCOME PLAN
The Monthly Income Plan is tailored for those individuals who regularly need money to supplement their income i.e. each month. Interest earned on your deposit becomes another source of income.
|Period||Monthly Income Scheme Normal||Monthly Income Scheme Senior Citizen|
- This plan does not demand any extra formalities, as concerns overdrafts and withdrawals, hence enabling you to withdraw as much as 70% of the deposit amount.
- Provides you the comfort of liquidity along with a security of your money being in safe hands.
- An additional 0.50% interest for senior citizens (applicable only for deposits of Rs. 10000/- and above).
- Provision for nomination.
- Deposit account can be opened with minimum amount of Rs. 50,000/- and subsequent deposits in multiples of Rs.5000/-.
- Deposit Tenure:
- Minimum - 12 months.
- Interest will be paid on monthly basis at discounted rate.
- No penalty for premature payment will be levied in case of premature payment of deposits up to Rs. 5 Lakhs provided it remained with the KINGSMAN SOLUTIONS NIDHI LIMITED NIDHI for a minimum period of 12 months.
- On pre-matured withdrawal of your deposits, interest will be calculated at 4% below the rate applicable for the period of deposits.
- Interest payments are subject to TDS (Tax Deducted at Source).
- Passport size photograph
- Proof of residence
- An Introduction as per KINGSMAN SOLUTIONS NIDHI LIMITED NIDHI's norms.
- Interest 9% (7/12 +2) at end or maturity