Tax Saver Account of Tamil Nadu Grama Bank

Tax Saver Account

Objective	To have a double benefit of interest income and tax benefit
Tenor for the Deposit	5 years
Elgibility	Existing and New Customers of Tamil Nadu Grama Bank
Interest Rate	Subject to change by the Bank from time to time. Please refer our Interest Rate Label / visit our nearest branch
Amount of Deposit	Maximum amount of ₹1.5 Lakh. (Limit -as per Sec 80C of Income Tax Act,1961)
Salient Features	Nomination facility available At present, investment up to ₹1,50,000/- is exempted under Section 80C Available in FDR / RIP scheme No loan / foreclosure allowed upto 5 years (Lock in period)
TDS (Tax Deducted at Source)	Interest on these term deposits shall be liable to tax under the Act, The tax on such interest shall be deducted in accordance with the provisions of section 194A or section 195 of the Act.
Documents Requirement to open a New Account	Please visit your nearest branch with required KYC documents (Officially Valid Documents for Identity and Address Proof)