Deposit pension scheme allows customers to deposit a specific amount every month throughout six year. At the end of the 6 years customer can get either a lump sum amount or a specific monthly pension throughout next five years. At the end of the pension period customer will get a specific lump sum amount. Furthermore, at any time of the pension period, customer may stop enjoying pension and withdraw the full lump sum.
Any individual customers will be allowed to open any number of this scheme in his/her own name or jointly by depositing first installment.
Under this scheme customers deposit a certain amount in every month for a period of 6 years to avail attractive benefit as per either option -1 or option -2 mentioned below:
|Installment Amount||Option 1||Option 2|
|At a Time Benefit after 6 Years||Pension Amount after depositing installments for 6 Years||At a time payment after receiving pension for 5 Years|