Deposit Multiplier Scheme allows the deposit holder to earn interest on interest and helps in creating long term wealth.
Min and Max Amount : An FD with Deposit Multiplier Scheme can be created with minimum of Rs.1000. There is no actual limit for the maximum amount of investment in DMS FD.
ROI : ROI for DMS FD depends upon the tenure of the FD. Usually it is always greater than the savings account ROI.
Tenure : DMS FD can be created for a Minimum tenure of 12 months and Maximum tenure of 120 months.
Availability : DMS FD can be created at any TBSB branch.
If you wish to create a DMS FD and start the process online, you can also fill up this form and we will conncet with you for further details.
Eligibility : Every Indian resident can create DMS FD with TBSB.
Minimum age for an individual to create a DMS FD is 18 years.
Any Minor account holder can also create DMS FD, jointly with an Adult.
HUF, Businesses, Trust and other entities can also create DMS FD with TBSB.
Nomination : Nomination facility is available for every deposit created with us. We suggest to have a nomination for every deposit created with TBSB.
Secured under Insurance : Every deposit created with TBSB is insured and secured with Deposit Insurance and Credit Guarantee Corporation (DICGC) which is a wholly owned subsidiary of the RBI.
Special benefit : Being deposit multiplier scheme, Interest in credited in the deposit holders account at the maturity.
Every DMS FD holder enjoys the benefit of cumilative interest.
Loan facility can be availed by the deposit holders, which helps them to leverage financially and pay back with ease.
Loan facility : DMS FD holder can vail loan facility on the deposite at affordable rates.
TDS : TDS is applied to the interest on depositt account.
Premature Withdral : Premature withdrawal of the DMS FD is allowed but it attracts penal interest. We suggestt, unless extremely issentails, any deposit should not be withdrawn prematurely.
Show case financial planning based on Goals : How DMS FD can help you save more ?
Suppose you have some surplus money which you do not require for a atleast one year, then you can create a DMS FD and let that money earn more money for you. As DMS FD provides cumulative interest, you tend to earn more. This is one better and safer way to earn more on a long term basis.
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