Central Bank of India Tax Saver Fixed Deposit

Is the Central Bank of India offering Tax Saver Fixed Deposit Scheme? Actually I heard about this type of Scheme from someone. So please tell me about Tax Saver Fixed Deposit Scheme of Central Bank of India?

[Rajkumar Agarwal]

The Tax Saver Fixed Deposit offers Cent Tax Saving Deposit Scheme.

Here I am providing following information related to Cent Tax Saving Deposit Scheme:

CENT TAX SAVING DEPOSIT SCHEME

Type of Deposit :
An individual or a Hindu Undivided Family (HUF) who is an Income Tax assessee with Permanent Account Number.

Mode of Holding :
Single holder type deposits.
Joint holder type deposits.
The single holder type deposit receipt shall be issued to an individual in personal name.

Tenure of the Deposit :
Fixed period of 5 years.

Amount :
Minimum: Rs.100/- or multiples thereof.
Maximum: Rs.1,50,000/- (Rs. One Lac Fifty Thousand only) in a financial year.

Rate of Interest :
The rate of interest to be applied to Cent tax Savings Deposit Scheme will be in accordance with the interest rate on domestic term deposits (upto Rs. 15 lacs) applicable to the five-year term.