- Details
- Features
- Benefits
Product Overview
NIBL Green Double Fixed Deposit
NIBL's Green Double Fixed Deposit Account (GDFD) was introduced with the objective of soliciting small Fixed Deposit of individuals (salaried employees, professionals and others) to encourage long term savings and to increase long term deposits. It aims to cater to the saving need of the small depositors who aims to invest in long term saving for double return. Cumulative Fixed Deposits are best suited for investors who do not need a regular interest payout, but would want more returns on their Fixed Deposits.
Features
- Cumulative nature (Capitalizing of interest amount into Fixed Deposit and providing interest on such capitalized interest amount to provide double the amount of investment after applicable taxes at the time of maturity)
- 8 years / 32 quarters tenure
- Deposits collected under GDFD will be invested in sustainable and enviornment friendly projects through Eco-Loan
- For Interest rate, please Click Here
Benefits
- Multiple GDFD account can be opened
- Credit card with 50% waiver on Issuance charge
- Loan against GDFD account can be extended up to 100% of GDFD amount after one and half year. However, before one and half year, loan against GDFD up to 90% of GDFD amount can be facilitated
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