National Housing Bank, a subsidiary of RBI has entered the retail sector with launch of two deposit schemes—NHB Sunidhi deposit scheme and NHB Suvriddhi (tax savings) term deposit scheme.
Interest rate on Sunidhi scheme is 9.25 percent for 12/24 months and 9 percent for 36/60 months, while interest on Suvriddhi is 8.75 percent compounded quarterly. The minimum deposit under Suvriddhi scheme is Rs 10,000/ and maximum of Rs 1 lac with lock-in period of 60 months as it is a tax savings scheme.( source BL 160109)
Interest rate on Sunidhi scheme is 9.25 percent for 12/24 months and 9 percent for 36/60 months, while interest on Suvriddhi is 8.75 percent compounded quarterly. The minimum deposit under Suvriddhi scheme is Rs 10,000/ and maximum of Rs 1 lac with lock-in period of 60 months as it is a tax savings scheme.( source BL 160109)
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