Millionaire Deposit Scheme (June’13)

Q. What is Millionaire Deposit Scheme (June’13)?

Millionaire Deposit Scheme: Millionaire Deposit Scheme (MDS) Account is a time specified monthly deposit scheme for clients where the deposited money will become one million on maturity.

Features and Benefits:

1.      Tenor: 4, 5, 6, 7, 8, 9 and 10 year’s term;
2.      Deposit on monthly installment basis;
3.      Attractive rate of interest;
4.      Account can be opened at any working day of the month;
5.      Monthly installment can be deposited through a standing debit instruction from the designated CD/SB Account;
6.      Monthly installment can be deposited in advance;
7.      An account can be transferred from one branch to another branch of the bank;
8.      Credit facility for maximum of 2 years can be availed at any time during the period of the scheme;
9.      Allowed to open more than one MDS Account for different amount at any branch of the Bank;

But these features and benefits can be varied bank to bank.