Corporate Money Maker Scheme

The Corporate Money Maker is similar to regular Money Maker Scheme except the size of installment and the benefit provided. Any individual and corporate bodies such as Multinational Company, Corporate House of EPZ, Local Corporate House (sole proprietorship concern, partnership concern, private and public limited company), Educational Institute, Non-banking Financial Institute, Insurance Company, Club and Association, NGO etc. can open this scheme.

Term / Installment Amount 25,000 50,000 75,000 100,000 300,000 500,000
02 Years 6,42,000 12,84,000 19,26,000 25,68,000 77,04,000 1,28,40,000
03Years 10,00,000 20,00,000 30,00,000 40,00,000 1,20,00,000 2,00,00,000
04 Years 14,49,000 28,98,000 43,47,000 57,96,000 1,73,88,000 2,89,80,000
05 Years 19,00,000 38,00,000 57,00,000 76,00,000 2,28,00,000 3,80,00,000

For Individual Customer

  •  Two copies of recent passport size Photographs of account holder duly attested by the Introducer.
  •   One copy of Passport Size Photograph of Nominee duly attested by the Account Holder.
  •  Duly attested photocopy of valid Passport/Employer’s Certificate/ID Card/Driving Licence/Voter ID Card/National ID Card or Certificate about credentials by the local Ward Commissioner/Chairman of Union Parishad
  •  Proof of address such as copy of utility bill viz. Electricity Bill/Land Phone bill/Cell Phone Bill/Gas Bill/WASA Bill, etc. in the name of applicants.
  •  Tax Certificate (if any)

Non-personal customer

  Documents related to the signatories and Non-personal entity need to be submitted

Depositor may avail credit facility against deposited amount or encashment value of the scheme according to credit policy of the bank.

  •   Any individual customer, singly or jointly, or non-personal customers will be allowed to open any number of this scheme by depositing the first installment at any working day of the month. Second and subsequent installments must be deposited within 28th of every month. If 28th is holiday, then installment must be deposited at previous working day.
  •   Installment can be deposited in any branch of the bank by cash or transfer from customer’s account upon instruction. Any number of installments can be deposited in advance.
  •   In case of failure to deposit installment in due time, depositor will have to pay 5% late fee with overdue installment for each month.
  •   If depositor fails to deposit six consecutive installments then scheme will be closed.
  •   All government tax, levy, duty or surcharge etc. applicable to the scheme will be deducted from the encashment value of the scheme.
  •   Encashment at maturity:
  •      Customer will get maturity amount as per the above table.
  •   Encashment before maturity:
  •      Before 6 months: Principal will be given back. Interest/benefit will not be allowed.
  •      On or after 6 months but before 3 years: Principal plus benefit for completed month(s) only at the lowest prevailing rate of savings account.
  •      Between two tenors: Contract value for the completed tenor as per schedule. For remaining period, benefit will be given for completed month(s) only at the lowest prevailing rate of savings account, for both completed tenor value and subsequent deposited installment(s).
  •   Encashment after maturity:
  •      Less than 1 month: Contract value of the scheme will be given. Interest/benefit will not be allowed for the days after maturity.
  •      1 month to 6 months (inclusive): Contract value of the scheme plus interest/benefit will be given at the lowest prevailing interest rate of savings account for the completed months after the maturity
  •      More than 6 months: Contract value of the scheme plus interest/benefit will be given at the lowest prevailing interest rate of 6 months FDR for the completed months after the maturity.
  •   Encashment at the death of the scheme holder
  •      For the period up to the date of death of scheme holder: Ledger balance (calculated based on scheme rate) will be given to the nominee(s) or legal successor(s) after deduction of government dues.
  •      For the remaining period: Benefit will be given for the completed month(s) on ledger balance at the date of the death of scheme holder at the lowest prevailing interest rate of savings account to the nominee(s) or legal successor(s) after deduction of government dues.