This kind of product is competent to customers who don’t prefer the much near return for their investments, nevertheless further prospected investments, for fulfillment of their future liabilities.
Certificates of Deposits with Accumulative interest
• Ten Years tenor certificate of deposits.
• Annual interest rate of 7%, to be added cumulatively to its balance at the end of the 10 years.
• May be issued in name of minors by guardianship of legally nominated person.
• Certificate holders have a priority advantage for choosing his own unit from HDB mortgage projects, in case of holding a certificate of deposit amount of 50% of the apartment value.
• Client can borrow or issue credit card up to 90% of the certificate amount
• Certificate could be liquidated after 6 month from issuing date.