Product Details
Bank Name
GOVE Finance Limited
Eligibility
Any Indian Resident
Interest Rate
8.75-9.75%
Tenure
12-48 Months
Fixed Deposit Type
Regular
Non-Cumulative Deposits
Tax Benefits
No
Credit Ratings
[ICRA]BBB- (Stable)
Interest Payment Frequency
Monthly. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Non-Cumulative
Features
Minimum Deposit Rs. 10,000/- per account with additions in multiples of Rs.1,000/- The tenure of the scheme ranges from 12 months to 36 months Joint Deposits are available Deposits up to 75% will be eligible for loans For senior citizens interest rate ranges from 7.75 to 8.50%
Minimum Investment Amount
Minimum Deposit Rs. 10,000/- per account with additions in multiples of Rs.1,000/-
Features & Benefits
Pros
Regular Income
Flexibility
Potentially Higher Interest Rates
Cons
Comparatively low credit ratings No tax benefits
Pros & Cons
Account Opening Procedure
How to Open?
Visit a GOVE Finance branch or download the application form from their website.
Fill out the application form with your details and choose the desired deposit tenure and interest payout frequency (monthly/quarterly/annually).
Attach the required KYC documents and submit the completed application form along with your investment amount.
Application Procedure
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