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 113 months.
- Higher interest of 0.50% 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 chargable 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.
- All eligible depositors
- Identity Proof(PAN is mandatory for deposit Rs.50,000/- & above)
- Address Proof
- One recent passport size colour photo