V Balika Deposit

Government of India have launched the National Scheme for incentives to girls for Secondary Education. Under the scheme the eligible girl student will receive Rs.3000/- deposited by the specified authorities alongwith interest accrued therein on compliance of the conditions specified under the Scheme. The main objective of the scheme is to reduce school drop-outs and promote the enrolment of girl child.

Our Bank has launched two deposit products for the purpose given below :

  1.  V-Balika Savings Bank Account

 The Girl child below the age of 16 years (as on 31st March) under the following categories are eligible to open the account:-

  • All SC/ST Girls who pass class VIII
  • All Girls who pass class VIII examination from Kasturba Gandhi Balika Vidyalaya (irrespective of whether they belong to SC/ST)
  • Girl child should be unmarried
  • Girl child should enroll for Class IX in State/Union Territory Government, Government Aided or Local Body Schools in the academic year 2008-09 onwards

 The account can be opened with zero balance and the interest on this account is as applicable to normal SB A/c of the Bank.

  1. V-Balika Term Deposit Account (VSU Cumulative)

 After receiving the incentive to the credit of V_Balika Savings Bank account of the child, the amount will be transferred to V Balika Term Deposit Account

Important features


Period of Deposit

  • The term/period of deposit will be counted from the date of deposit to the date on which the Girl Child attains the age of 18 years.

Rate of Interest

  • Interest (cumulative) as applicable to Domestic Term Deposits as on the date of issue of Deposit Receipt.

Further details can be obtained from the nearest branch of the bank.

Click Here to download the Application Form

 

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