October 29,2020

Millionaire Deposit Scheme

To encourage long term deposits from customers, the NFL has launched a new deposit product called NFL Millionaire Deposit Scheme at competitive rates. The NFL Millionaire Deposit Scheme is designed to meet customer demand for a deposit which meets a predetermined target amount.

Comparative chart of different periods:

Period in Year

Monthly Installment

23,927

17,072

12,983

6,790

4,850

3

10,00,000

 

 

 

 

4

 

1,000,000

 

 

 

5

 

 

10,00,000

   

8

 

 

 

10,00,000

 

10

 

 

   

10,00,000

  • The amount of monthly deposit is to be made within 10th day of every month;
  • In case of default of monthly installment in any month, deposit may be made with the installment of the following month;
  • In case of default of monthly installment thrice during the deposit term, the A/C will be closed automatically;
  • Penal interest will be applicable for per Default installment @5% of instalment amount;
  • Closed Account may be reopened subject to approval of management by paying previous installments and penal interest at a time;
  • Tax will be deducted at source as per income tax regulations;

Download Application Form 

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Loan/Lease

FDR with Simple Interest

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