PMC Bank Bal Bhavishya Yojana

I need to know more about Bal Bhavishya Yojana of Punjab & Maharashtra Co-operative Bank Ltd?

[Rajkumar Agarwal]

As you want to know more about Punjab & Maharashtra Co-operative Bank Ltd, Bal Bhavishya Yojana here I will get details for you.


In Bal Bhavishya Yojna, Lump sum one time deposit is required to be deposited by the depositor. Period of deposit will depend on Date of Birth of child. Bal Bhavishya Yojna contains four schemes for deposits, as mentioned below:

Lakhpati scheme: Lump sum amt will be calculated as per DOB of child and maturity will be on the 18th birthday of the child.

Money back: Deposit 10,000 today and after 5 yrs of deposit bank will give Rs.1500 every year to the child till maturity & on maturity a certain lump sum amt.

Yearly RD: Fixed amountt on fixed date. Penalty clause as applicable.

Monthly RD: Same as Recurring Deposit but period is longer till majority of child.

Interest rates
For General Depositors For Senior Citizen Depositors
7.00 % p.a.. N.A

Notes :
Penalty of 1% p.a. levied for premature withdrawal of deposits.

Rate of interest of 4.00% on deposit for a period of 7 - 14 days will be given provided deposit is Rs. 5,00,000.00 and above.

Bank's PLR is 14% (Rate of Interest on Loans and advances are linked to Bank's PLR )

Address:-
Punjab & Maharashtra Co-operative Bank Ltd
Office No. 4 & 5, 3rd Floor, Dreams Mall,
L. B. S. Marg, Bhandup (W),
Mumbai - 400 078.

Phone:-
(022) 6780 4000