Cumulative Deposit
Kanjirapally Service Co-Operative Bank introduces the Cumulative Deposit scheme, a smart and efficient way to grow your savings while enjoying the benefits of compounded interest. With this scheme, you can watch your investment grow steadily over the deposit period, providing financial security and peace of mind for your future.
Key Features:
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Accumulative Growth: Watch your savings grow exponentially with the power of compounded interest, as interest is calculated on the principal amount plus the interest earned.
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Fixed Tenure: Cumulative Deposits come with a fixed tenure, allowing you to plan your savings and withdrawals accordingly.
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Flexible Deposit Amount: Choose a deposit amount that suits your financial goals and budget, with the flexibility to increase or decrease it over time.
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Competitive Interest Rates: Earn attractive interest rates on your cumulative deposits, ensuring that your savings grow steadily over the deposit period.
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Maturity Benefit: Upon maturity, receive the total accumulated amount, including the principal and compounded interest, providing a lump sum for your financial needs.
Benefits:
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Long-Term Savings: The Cumulative Deposit scheme is ideal for long-term savings goals, such as retirement planning, education funds, or purchasing a home.
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Risk-Free Investment: Your deposits are safe and secure with Kanjirapally Service Co-Operative Bank, providing stability and peace of mind for your investments.
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Financial Discipline: The fixed tenure encourages disciplined savings habits, helping you achieve your financial goals systematically.
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Tax Benefits: Depending on the prevailing tax laws, you may be eligible for tax benefits on the interest earned on your cumulative deposits.
Eligibility:
- Individuals, including minors through their guardians, can open Cumulative Deposit accounts with Kanjirapally Service Co-Operative Bank.
Documents Required:
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Proof of identity and address
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Passport-size photographs
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PAN card or Form 60/61
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Any other documents as specified by Kanjirapally Service Co-Operative Bank
How to Open:
To open a Cumulative Deposit account, visit your nearest Kanjirapally Service Co-Operative Bank branch and speak to our customer service representatives. Our team will guide you through the account opening process and assist with the necessary documentation.