- Customer earns an interest of 5% per annum. That means, if the customer deposits Rs 1,000 today, the customer will earn 5% on the amount maintained in the bank for 1 year.
- If the first Nivesh CBBF account was made today & maintained for one year, 5% will be earned. On the deposits made next month, bank will provide interest for 11 months and so on.
- Interest earned will be clearly shown in the customer’s account.
- There is no penalty on missing a deposit.
- Tenure: 390 days; on maturity the amount and interest earned would be transferred to customer’s savings account.
- Savings account is linked to the customer’s goals; this gets opened along with the recurring deposit account of the customer. Simply click on the goal to withdraw & you can provide the service to the customer.
- Lock-in: 3 months; no withdrawals allowed; after three months of the initial deposit, the customer can withdraw the full amount before maturity, however, the interest rate reduces to 4%.
- Post maturity, customer can either retain the balance as is and keep on earning the interest or withdraw without any penalty.
- The product is not available to customers with age less than 18 years.
- The customer gets access to a customer dashboard, where the customer can login and check their balance, product features, terms and conditions etc.
Category:
Nivesh