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| BOBL launches tax saver deposit | | |
NEW DELHI, September 25
Bharat Overseas Bank Ltd (BOBL) has announced the launch of a new tax saving deposit scheme called "BOBL Tax Saver Deposit" which provides tax benefit under section 80 C of the Income Tax Act, 1961 with the following salient features:
Under the said scheme, individuals and Hindu Undivided Family/Families can invest with a minimum of Rs. 100/- and a maximum of Rs.1 lakh.
The deposit under the said scheme is locked in for a period of five years.
Currently, the bank offers an attractive interest rate of 8.25% p.a. for general public and 8.75% p.a. for senior citizens respectively.
Customers can have the option either to draw interest on monthly/quarterly/half yearly or lump sum at the time of maturity. |
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