Weekly Deposit

Weekly Deposit

Weekly Deposit Scheme gives you an opportunity to set deposit limit amount on a weekly basis, these deposits are made to deposit accounts such as savings accounts, checking accounts and money market accounts.

Deposit Scheme

Tenure Recurring Deposit Minimum Deposit
1 Year 10% 1000
2 Years 10.5% 1000
3 Years 11% 1000
4 Years 11.5% 1000
5 Years 12% 1000

A weekly deposit is a type of term deposit, where the interest earned is credited directly back to the investors account per week. 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 weekly payout FDs.

  • The duration of these deposits can go all the way up to 10 years.
  • Tax Deducted at Source ( TDS ) is applicable on Weekly deposits. If interest earned on weekly 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.