Financial Daily from THE HINDU group of publications
Wednesday, Jan 25, 2006
Financial Daily from THE HINDU group of publications Wednesday, Jan 25, 2006 |
|
|
|
|
|
|
|
Money & Banking
-
Private Banks TMB unveils `Kids RD scheme' Our Correspondent
Madurai , Jan. 24 TAMILNAD Mercantile Bank (TMB) Ltd has launched a new savings scheme "KIDS Recurring Deposit". The scheme is suitable for students/parents in meeting the growing cost of higher education to be incurred by them by saving small amounts every month. Under the scheme, a person who saves for a fairly longer duration will get priority in sanction of TMB's Education loan as per the provisions of the Bank. The minimum term of the scheme is one year and the maximum period of savings is 10 years and any one can invest to meet any of their future needs. The minimum monthly savings starts at Rs 58 per month and there is no maximum limit. The minimum target sum is Rs 10,000. There is no tax deduction at source for the interest earned under the scheme, according to a TMB press release. UTI MF product: The bank has taken up the distribution of the UTI Mutual Fund's new product "Leadership Equity Fund" from January 9 to January 30, 2006, a bank release said. The scheme re-opens for continuous purchase and redemption on February 28, 2006, the release added.
More Stories on : Private Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|