NEWS & ADVICE : FIXED DEPOSITS
Double deposit scheme by State Bank of Hyderabad
By Neelima Shankar
Nov 8, 2011
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Public sector lender State Bank of Hyderabad has come up with a new deposit scheme which would double itself in the shortest time span. Christened as the 'double deposit scheme', it would come with double benefit for the customer.

A general citizen will see his fixed deposit amount double in just 87 months while for a senior citizen, the amount would double itself in just 83 months.

Interest rates applied would be 13.84% for a general citizen and 14.56% for a senior citizen.

Also, no premature penalty would be charged on these deposits.

The mininum deposit requirement for the scheme has been set at Rs 10,000 and in multiples of Rs 1000 therafter.


 


(Comments Posted : 3) Post Your Comments
1. DOUBLE deposite schme is good.But I want to know if any income tax get cut at the maturity time.If Yes will it be on only the extra amount or on the total matured amount?How much amount get cut if I deposite 5lac?
Vijaya (Posted: Feb 18, 2016)
2. DOUBLE DEPOSIT SCHME IS GOOD but i want know any income tax at the maturity time please tell me the details
PENCHAL REDDY (Posted: Nov 14, 2011)
3. sbh deposits would double in 87 / 83 months. erroneously, the same has been mentioned as 'days' instead of months pls..
bhaskar (Posted: Nov 8, 2011)
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