M.I.S Deposit

M.I.S Deposit

For employees, it refers to the gross monthly wages or salaries before deduction of employee CPF contributions and personal income tax. It comprises basic wages, overtime pay, commissions, tips, other allowances and one-twelth of annual bonuses.

Deposit Scheme

Tenure Monthly Deposit Minimum Deposit
3 to 5 Years 0.95% 10000

A monthly interest fixed deposit is a type of term deposit, where the interest earned is credited directly back to the investors account per month. This is a fixed deposit that earns an interest in much the same way as a regular fixed deposit does with a few differences.

  • With some banks, there is a minimum and a maximum amount that can be deposited in these accounts.The interest is generally paid at a discounted rate for monthly payout FDs.

  • The duration of these deposits can go all the way up to 10 years.
  • Tax Deducted at Source ( TDS ) is applicable on M.I.S deposits. If interest earned on monthly deposits exceeds Rs. 10,000 a year, TDS at the rate of 10 per cent would be deducted by the bank. With some banks, no TDS is deducted by the banks on the interest earned.

    Contact

    • Ward 15 Hanuman Nagar Moradabad Uttar Pradesh 244001
    • (+91) 6396753701
      9105050820
    • info@neelanjali.com

    Brochures

    View our 2017 scheme prospectus brochure for an easy to read guide on all of the services offer.