Monthly Income Scheme (MIS):
Our Bank offers all resident individuals to open a "Monthly Income Scheme (MIS)" account in single/joint name/s along with premature withdrawal facility.
Salient Features & Advantages:
- True to its name, the scheme offers interest payable at the contracted rate every month, on the fixed deposit which is accepted for the period of choosing by customer.
- Interest is paid/credited to the Savings/Current account of the depositor on the same date of every month in which date the deposit is opened in a particular month. First such interest will be paid in the month, following the month in which the deposit is kept. In some cases, quarterly payment can also be opted.
- Senior Citizens are offered additional interest of 0.50 % for the deposit
- Nomination facilities are available for this scheme
- TDS is applicable for the deposit
* For more details contact to your nearest branch of our Bank.
