PNB Bank offers Term deposit schemes for Girls education at higher rate of interest on deposits, You can check eligibility, features, rates & minimum deposit amount with other important information.
Features
| Eligibility | · This scheme is for girl who passed 8th standard from Kasturba Gandhi Balika Vidyalayas and enroll for 9th class in State/UT Government, Govt. Aided or local bodies school in the academic year 2008-09 · All Sc/St girls who passed 8th standard and enrolled themselves in any State/UT Govt., Govt. Aided or local body school in the year 2008-09, from this school can enjoy this scheme. · The girl should be unmarried and below 16 years of age as on 31st March on joining class 9th. |
| Exclusion | · Any student who is enrolled in private schools is discharged from this scheme. · Any student who is enrolled in schools run by Central Govt. Is also excluded. |
| Initial Deposit Amount | Nil for opening a saving account |
| Fixed Deposit Amount | Rs 3000 in the name of the girl and she would be eligible to withdraw that amount when she reaches the age of 18 years. |
| Auto-Renewal | Auto-renewal of the account shall be done in 30 days until the final disposal of funds |
| Process of Withdrawal | · To withdraw the matured amount it is necessary to pass class X board exams successfully. · At the age of 18 years and by presenting a) class X board results b) certificate from the Principal/Head of the school she can withdraw the amount. · The recipient must persist in her studies for at least 2 years in the secondary school after her enrollment in class IX in order to avail the benefit of this scheme. |
| Loan/Advance | Not available |
| Interest | The CARD rate of interest as applicable for normal FD scheme for different tenures. |
| Pre-mature Cancellation | There is no pre-mature withdrawal allowed in this scheme. However, due to sudden death of the student, the account shall be transferred to Central Govt. Account. |