|A new holiday savings account has been launched by Thomas Cook India (TCIL) in partnership with the IndusInd bank. With IndusInd Bank the TCIL will offer a new scheme to its customers.
The customers will be required to save in recurring deposit for 1 year with the interest rate of 9.10%. Customers have to pay 12 installments. The last installment, that is, the 13th installment, consist of the interest earned plus a top-up amount paid by TCIL, afterwards the RD will be used to pay for the holiday package. On the basis of the destination the customer can decide the monthly amount of deposit.
In case customer does not wish to avail the holiday, he/she can simply withdraw the cash but will not be offered with the 13th Installment top up by TCIL. The biggest advantage is that you can book package at the rate prevailing when you start the deposit. By the time the deposit matures, if the rate for that particular package increases, you will still get it at the rate you had locked into.