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| Can I apply for an Education Deposit? |
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| You can apply if you are... |
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A salaried person |
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Small trader |
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Rural saver |
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Professionals & Self-employed | |
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| You can use this deposit for the higher education of your children. |
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| What are the features of the Education Deposit? |
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It is a variation of the Recurring deposit scheme |
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You pay a smaller instalment every month according to the period of your deposit which decreases every year |
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- 1/5th decrease for deposits of 63 months
- 1/7th decrease for deposits of 84 months
For example, if you're paying a monthly instalment of Rs. 250/- for 63 months, you pay...
- Rs. 250/- p.m. in the 1st year
- Rs. 200/- p.m. in the 2nd year
- Rs. 150/- p.m. in the 3rd year and so on |
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You can get your deposit and the interest repaid in convenient instalments or in one lump sum |
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- Three annual instalments for a 63 month deposit
- Four annual instalments for a 84 month deposit | |
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| What is the minimum amount I can deposit? |
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The minimum monthly deposit is Rs. 250/- for 63 months and Rs. 350/- for 84 months.
While all efforts have been made to update the information, constituents are requested to contact the branches for latest details. |
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