NDB which consistently strives to instill and inspire the nation to save, launched its latest product to the market ‘NDB Savings Planner’.
The Bank introduced this product with an aim to foster financial discipline amongst people who aspire to reach their future goals while conveniently investing for a secured future.
Therefore, banks have a pivotal role to play in raising the level of domestic savings in the country, as much as the citizens are required to become active contributors.
NDB's unique savings proposition assures a greater return, offering the customer the option of depositing an agreed monthly sum for an agreed maturity value. It also comes with the distinctive advantage of establishing an end target value in mind.
All this comes to the customer at a guaranteed rate of interest for the entire tenure. The maturity values will range from Rs. 250,000 to Rs.10 million with tenures ranging from 2 to 18 years. This long-term commitment will have no withdrawals.
The NDB Savings Planner is tailormade to suit one's requirements and help one make most of his or her savings.
Customers will have the option of depositing a lump sum and select a specific monthly commitment to reach a specific maturity value at the end of the selected maturity period. By doing so, the customer will have an advantage of making a minimum monthly commitment.
For example, if you deposit a lump sum of Rs. 100,000 for 5 years and agree for a maturity value of 1 million, the monthly commitment is Rs. 10,899.
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