CUB offers tax saver deposits
- Resident individual-single and joint accounts and also HUF
- Save Tax under Sec 80C of the Income Tax Act
- Tax Saver Silver - Accept deposits from Rs. 100/- ; Tax Saver Gold - Accept deposits from Rs. 1000/-
- Maximum not exceeding Rs. 1,50,000/- for a financial year in both the schemes
- Tenor - 5 years (lock in)
- Loan facility is not available
- Preclosure is not available
- In case of Tax Saver Silver Deposit simple interest is paid monthly / quarterly
- In case of Tax Saver Gold Deposit cumulative interest is paid on maturity
- TDS at prevalent Income tax rate is deducted if Form 15G / 15H is not submitted
- Nomination facility is available
