Risk-free defined growth
We, LUB, understands the requirement of security. Our risk-free fixed deposits provide you extra fruits on your money with accessible features at all time of your life. LUB offers your saving with no entry cost, flexible tenure & higher interest rates.
Fetures & Benefits:
- Flexible Tenor ranges from 15 days to 120 months
- Choice of various fixed deposits scheme
- Interest payable monthly, quarterly, half yearly, annually or at maturity as per your need
- Nomination facility available
- Higher rates for Senior citizen
- Loan against Pledge/Lien up to 90 % on Deposits 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.
- No maximum limit on deposits
- Deposits are insured as per DICGC Rules
- 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.
Deposits Option At Glance
|Type of Deposits||Highlights|
|Fixed deposit monthly interest(FDM)||
|Fixed deposit monthly interest (FDQ)||
|Dam Dupat (DAD)||
Current Interest Rate:
|Sr no||Particulars||Interest Rate w.e.f. 03.10.2020|
|1||15 days to 45 days||3.00%|
|2||46 days to 90 days||4.00%|
|3||91 days to 180 days||5.00%|
|4||181 days to 12 months||6.00%|
|5||Above 12 months to 24 months||7.00%|
|6||Above 24 months to 60 months||7.25%|
|7||Above 60 months to 120 months||7.50%|
- Dam Dupat (DAD) will be for 113 months.
- Re-Investment scheme is for 60 months complete and above.
- Extra 0.50% rate of interest for Senior Citizen.