VVCC Bank| SMSBanking
VVCC Bank| SMSBanking
Recurring Schemes


Recurring Schemes:

  • Monthly Recurring Scheme Interest rates are applicable as per rates of Fixed Deposits and tenure.
  • Daily Recurring Scheme Interest rate @4.00% for 1 Year.
  • Loan Facility up-to 90% of Daily Recurring Balance @8.00%


Note:

  • Customer will get interest on Monthly / Quarterly interval on Fixed Deposits.
  • 01.00 % Penal interest shall be attracted on premature withdrawal of any deposit on the applicable Rate of interest (Which means 01.00% less interest will be paid than the prevailing interest rate at the time of premature).
  • TDS will be applicable @10.00%, if interest paid on Fixed Deposits / Recurring Deposits equal to or more then Rs. 10,000.00 in a financial year and PAN card submitted.
  • If PAN card is not submitted TDS will be deducted @ 20.00%
  • Customer may submit form 15G / 15H along with PAN card for no deduction of TDS, if total taxable income of the customer does not exceed basic limit of Income Tax.
  • TDS is applicable from June 1, 2015 for financial year 2015-16 (For Depositors of Co-Operative Banks).

VVCC Bank| SMSBanking