What is savings deposit account and how I open a savings deposit account with KTNL Ltd?
- Savings Deposit Accounts are similar to Savings Bank Accounts of Nationalized and Private Sector Banks.
- Savings Deposit Accounts can be opened with a minimum balance of Rs.1000/-
- The maximum amount in Savings Deposit Account that is eligible for interest is 1,00,000/-.
- Interest @ 6% per annum is given on daily minimum balance.
- Interest credited half-yearly i.e. during the months of September and March.
- Amount can be withdrawn by means of withdrawal slips available at Kovai Tech Nidhi Limited Offices.
- Savings Deposit Accounts can be opened as “Individual”, “Either or Survivor”, “Jointly” or “Anyone or Survivor” modes.
- No Loan Facility is available on Savings Deposit Accounts.
- Amount can be remitted.
- Fixed Deposits, Recurring Deposits and Savings Deposits can be opened in the name of minors also, who are duly represented by their natural guardian.
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