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Syndicate Bank Pigmy Scheme |
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Re: syndicate bank pigmy scheme
New Pigmy Deposit Scheme – Pigmy + 2007 – offered by Syndicate Bank comparable to the Bank’s Pigmy (1928) Deposit Scheme, but with added features for increased customer compatibility. The Bank’s Authorized agent will collect one’s savings at one’s doorsteps at daily or less frequent intervals in tune with one’s convenience. Any day after 12 months of opening the Deposit, the amount equal to or exceeding Rs. 5000/- in the Deposit Account, can be transferred to a term deposit account at the ruling interest rate which is subject to the terms of the Scheme, listed below: 1. Minimum Contribution per occasion: Rs. 5/- 2. Period of Deposit: 72 months 3. Premature refund: i) Before 24 months: Permitted with penalty and without interest. ii) 24 months & above: Interest on deposit will be paid at rates ranging from 2 % to 5%, (as fixed by the Bank from time to time), depending upon the period for which the deposit has remained with Bank. 4. Loan /Overdraft: Loan/OD available up to 75 % of the outstanding balance 5. Nomination facility: Available 6. Tax Deduction at source: No tax will be deducted on the interest earned on the Pigmy +2007 deposit (Before conversion) New Pigmy Deposit Scheme – Pigmy + 2007 – offered by Syndicate Bank |
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