IFSC Code : IBKL0497LUC

DAD(Double)

Dhanvardhini DAM DUPAT(DAD) - A real Multiplier

What else we need if our saving is doubled in risk free at no entry cost. LUB understands the need of security & financial provision of your life.LUB brings Dhanvardihini Dam Dupat (DAD) scheme which will multiply your money in given tenor.

 

Features & Benefits:

  • The amount invested will be doubled at the time of maturity.
  • Amount doubled in 93 months 14 days only.
  • Higher interest of 0.25% extra to Senior Citizen.
  • Interest earned is re deposited with Principle.
  • Interest along with Principle will be paid at the time of maturity.
  • Deposits account can be opened with minimum deposit of Rs.500 only.
  • Deposit of Rs.50,000/- & above will not be accepted in cash.
  • No maximum limit on deposit
  • No restriction on number of accounts. You can open as many as you want at different times.
  • Loan against Pledge/Lien up to 90 % on Deposits facility available
  • Nomination Facility available
  • Instant access to your funds when you need it. Premature Withdrawal is Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
  • Deposits are insured as per DICGC Rules(Website : www.dicgc.org.in )
  • As per changes in Finance Bill,2015 TDS on deposits is also applicable to members(shareholders) at bank level (instead of branch level)
  • As per section 206AA, every person who is in receipt of tax deductible income shall furnish PAN, failing to which TDS deductible at 20%(instead of 10%)
  • Form 15G/15H can be submitted to avoid TDS deduction if income chargble to tax does not exceed basic exemption limit.
  • In the absence of PAN, form 15G/15H is invalid.
  • Deposit receipt are not transferable by endorsement.

Eligibility

  • All eligible depositors

Documents Required:

  • Identity Proof(PAN is mandatory for deposit Rs.50,000/- & above)
  • Address Proof
  • One recent passport size colour photo
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