TERMS & CONDITIONS

CORP Nirantar Tax Saver

A Hassle-free, Flexi Tax Saver Deposit Scheme
[in Continous Deposit format – TSKCC variant with PassBook]

Eligibility Individuals, either single or jointly with other individuals

including minors represented by guardian & HUF. The deposit
should not be accepted from other type of customers like
associations, clubs, partnership, Limited Company, etc.

Period of deposit 5 years [Lock in Period]

Amount The depositor can start investing with a minimum of Rs. 100/-
and in multiples of Rs 100/- up to a maximum of Rs 1,00,000
in a year - any number of times.

Rate of Interest At the latest prevailing interest rates for five–year term
deposit from time to time. Additional interest is paid to
Senior Citizens.
Nomination Nomination facility is available under the scheme as per the
rules applicable from time to time. No nomination shall be
made in respect of term deposit held by or on behalf of
minors.
Premature No premature closure /loan is permitted and also deposits
closure/ Loan cannot be taken as collateral security for any other facility.
against the deposit However, premature closure is permitted in case of death of
the depositor.
Tax deduction at Tax will be required to be deducted at source, as in the case
source of normal term deposits and in applicable cases, branches can
accept self declaration in Form 15G or 15H as the case may
be, from the depositor.
Permanent Corp Nirantar Tax Saver deposits can not be opened without
Account Number PAN. PAN is compulsory.

Tax Exemption The depositor could claim exemption under Section 80(C) for
the amount which he /she had deposited under this scheme.

Passbook Passbook would be issued to the customer recording the

credits made into the account, along with maturity value and
rate of interest.
For further details Please visit nearest Branch or call Toll Free No.
1800425 3555 [8 am to 8 pm]

Research & Development Division