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J&K Bank Child-care Deposit Scheme Check Features and Benefits

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  • Monthly Installment          Rs. 100/- and its multiples.
  • Tenure                                  7, 9 and 10 years as recurring (Phase-I) and 5 , 7 and 10 years respectively as term deposit (Phase-II).
  • Interest rate                        Fixed. Interest rates as per the rates prevalent at the beginning of the respective phases.
  • Interest application             Quarterly compounded interest.
  • Interest payouts                 On maturity
  • Add- ons

Accidental Insurance Cover for the Parent / Guardian (linked to the size of monthly deposit amount).

  • Premature withdrawal       Allowed with penalty.

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( With inputs from : kashmirpublication.in )

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