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  • Is ₹2 Crore FD Interest Enough for a Monthly Income? Explained

    FD Interest Rates

    Fixed Deposits (FDs) are a popular investment choice for individuals seeking a stable and secure source of income. Many investors wonder whether a ₹2 crore FD interest per month is sufficient to sustain their lifestyle. The answer depends on various factors such as FD interest rates, inflation, and individual expenses. In this article, we will analyze the potential monthly income from a ₹2 crore FD and whether it is enough to meet financial needs.

    Understanding FD Interest Rates
    FD interest rates vary across banks and financial institutions. They depend on the tenure of the deposit, the type of investor (senior citizens often get higher rates), and the prevailing economic conditions. Typically, interest rates range from 6% to 8% per annum in India. Higher rates offer better returns, making it crucial to choose the best FD scheme for maximizing earnings.

    Additionally, different types of FDs offer different interest structures. Some FDs provide cumulative interest, which is paid at the end of the tenure, while others offer non-cumulative interest, paying out monthly, quarterly, or annually. Investors seeking a monthly income must opt for non-cumulative FDs to receive regular payouts.

    Calculating Monthly Interest on a ₹2 Crore FD
    The formula to calculate interest earnings on an FD is:
    Simple Interest:
    Compound Interest (Quarterly Compounded):
    Where:

    • P = Principal amount (₹2 crore)

    • r = Annual interest rate

    • n = Number of times interest is compounded per year (quarterly = 4)

    • t = Tenure in years

    Expected Monthly Interest Payouts
    Below is an approximate breakdown of monthly interest based on different FD interest rates:

    Monthly Interest Payouts

    From this table, we can see that with an FD interest rate of 7%, a ₹2 crore FD can generate ₹1.16 lakh per month, which might be sufficient for some individuals but not for those with higher expenses.

    Factors Affecting the Sufficiency of FD Interest Income

    1. Inflation
    The cost of living increases over time, reducing the purchasing power of money. If inflation rises at 5% per annum, the real value of interest income declines, making it challenging to maintain the same lifestyle.

    2. Lifestyle and Expenses
    A monthly income of ₹1-1.3 lakh might be sufficient for a frugal lifestyle but may not cover luxury expenses, medical emergencies, or inflation-adjusted living costs. Expenses such as rent, groceries, healthcare, education, and travel should be taken into account.

    3. Tax Implications
    FD interest is fully taxable under the Income Tax Act, 1961. If the investor falls into the highest tax bracket (30%), a significant portion of the income will go towards taxes, reducing net earnings. For example, if an individual earns ₹1.16 lakh per month from FD interest and is taxed at 30%, their post-tax income reduces to approximately ₹81,667 per month.

    4. Alternative Investment Options
    Instead of relying solely on FDs, diversifying investments into mutual funds, real estate, and dividend-yielding stocks can provide a more stable and inflation-adjusted income. Other options such as Senior Citizen Savings Scheme (SCSS), Post Office Monthly Income Scheme (POMIS), and debt mutual funds can offer competitive returns.

    5. Emergency Fund Consideration
    Since FD interest rates fluctuate based on economic policies, it is crucial to maintain an emergency fund. Medical expenses, unforeseen financial crises, or rising living costs can put stress on fixed-income investments like Fixed Deposit. Having a diversified backup fund ensures financial security.

    6. Interest Rate Variability
    Banks revise FD interest rates based on economic conditions, making long-term financial planning challenging. Investors should compare rates from different banks and opt for the best available schemes with high stability.

    Strategies to Optimize FD Returns

    1. Laddering FDs
    Laddering involves investing in multiple FDs with varying maturity periods instead of locking the entire amount into a single long-term FD. This strategy helps in mitigating interest rate fluctuations and provides liquidity at different intervals.

    2. Opting for Tax-Saving FDs
    Tax-saving FDs offer deductions under Section 80C of the Income Tax Act, up to ₹1.5 lakh per annum. While these FDs have a lock-in period of 5 years, they provide tax benefits that can help in overall wealth preservation.

    3. Choosing Senior Citizen FDs
    Senior citizens enjoy higher FD interest rates, usually 0.5% higher than regular FDs. Those above 60 years should leverage these schemes for better returns.

    4. Diversifying Investments
    Investors should not rely entirely on FDs. Allocating funds into Government Bonds, Corporate Deposits, REITs, and dividend-yielding equities can provide higher post-tax returns and better hedge against inflation.

    5. Using Monthly Payout FDs
    Banks offer monthly income FDs that provide regular interest payouts. These schemes ensure liquidity while maintaining capital security.

    Conclusion
    A ₹2 crore FD interest per month can provide a stable income, but its sufficiency depends on various factors like FD interest rates, inflation, taxation, and personal expenses. At an average interest rate of 7% per annum, it generates around ₹1.16 lakh per month, which may be enough for a moderate lifestyle but not for individuals with higher financial needs. However, after accounting for taxes and inflation, the real value of this income diminishes over time.

    To ensure long-term financial security, investors should consider a diversified portfolio instead of relying solely on FDs. Investing in a combination of Fixed deposit, debt funds, equity funds, and real estate can provide better inflation-adjusted returns. Additionally, financial planning should include emergency funds, medical insurance, and alternative income sources to achieve financial stability. Understanding these aspects will help make better financial decisions for sustained wealth growth.

  • Record ₹1,50,000 crore in mobile exports in January FY25

    India’s mobile phone exports surged past ₹25,000 crore in January 2025 and crossed ₹1,50,000 crore in FY 2024-25 compared to the total exports of ₹22,868 crore reported in FY 2020-21, said India Cellular and Electronics Association (ICEA) on Tuesday.

    Production doubled

    Attributing the performance to the Production Linked Incentive (PLI) scheme, ICEA said mobile phone production in India has doubled from ₹2,20,000 crore in FY23-24 to ₹4,22,000 crore. It estimated production to reach an estimated ₹5,10,000 crore in FY24-25, further cementing India’s emergence as a global manufacturing powerhouse.

    Further, ICEA estimated mobile phone exports to exceed approximately ₹1,80,000 crore in FY24-25. This represents an approximate 40 per cent growth over the previous fiscal year, crossing ₹1,29,000 crore and an estimated over 680 per cent growth since the inception of the PLI scheme in FY 2020-21.

    Pankaj Mohindroo, Chairman of ICEA, said, “Moving forward, we will focus on nurturing competitiveness, expanding scale, and strengthening our supply chain. The next phase will involve aggressive integration with the value chain to boost domestic value addition, driving us toward achieving India’s ambitious $500 billion electronics manufacturing target and our vision of becoming the largest exporter of smartphones globally.”

    ICEA stated that smartphones could become India’s top export commodity for the first time this year, with the PLI scheme driving exports, and creating jobs.

  • Blue Energy Motors to invest ₹3,500 crore in Maharashtra for EV truck plant • EVreporter

    Blue Energy Motors Ltd., a Pune based company engaged in clean-energy truck manufacturing and part of Essar’s green mobility initiative, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra during the World Economic Forum in Davos. Maharashtra Chief Minister Devendra Fadnavis and Industries Minister Uday Samant were present at the signing ceremony. The agreement outlines plans for Blue Energy Motors to invest approximately ₹3,500 crores in the state to establish a manufacturing facility for 30,000 electric trucks.

    The facility will include research and development (R&D) capabilities, a battery-pack assembly line, a motor manufacturing unit, and charging station infrastructure. The investment is projected to generate over 4,000 jobs and support the state’s transition to cleaner energy while contributing to industrial and economic growth, according to the company. Operations for the new facility are expected to begin in the fiscal year 2025-26.

    Speaking about the agreement, Anirudh Bhuwalka, CEO of Blue Energy Motors, stated, “We are excited to announce this landmark partnership with the Government of Maharashtra. This collaboration represents a crucial milestone in our ambitions of pioneering green trucking in partnership with Essar’s green mobility initiative. It reflects our shared vision for a cleaner, greener and a more sustainable future. Our investment will not only reaffirm Maharashtra’s position as a global hub for advanced clean mobility solutions but also will contribute to job creation and economic growth.”

    Notably, Essar Renewables also signed an MoU with the Government of Maharashtra to develop 2 GW of renewable energy capacity. Essar Renewables will invest approximately ₹8,000 crore in a mix of round-the-clock renewable energy projects, primarily aimed at supporting the Electric Vehicle truck charging ecosystem of Blue Energy Motors and GreenLine.

    Also read: Zero emission trucks provide the answer to pollution in transport segment

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  • Employed people Update: Basic tax exemption limit will be ₹5 lakh in the budget! Employed people in focus

    New Delhi: Amid the slowdown in expenditure by common people on goods and services, the government may give some concessions on the tax front in the general budget to be presented for the financial year 2025.

    The government’s emphasis is on bringing more and more people towards the new tax regime instead of the old tax regime. Therefore, while presenting the budget on July 23, Finance Minister Nirmala Sitharaman can take steps like increasing the standard deduction and increasing the tax exemption limit from Rs 3 lakh to Rs 5 lakh under the new tax system. Experts say that this will increase the attractiveness of the new tax system.

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    With GDP growth of 8.2% in FY24, it was the third consecutive year when the economy grew at a pace of more than 7%. However, the growth of Private Final Consumption Expenditure (PFCE), on which about 60% of the economy depends, was only 4%. Experts are insisting on giving incentives to increase it.

    What are the experts saying?

    Deloitte India Director Tarun Garg said, ‘The government can increase the standard deduction limit from Rs 50,000 to Rs 1 lakh in the new tax regime. Deductions under 80D on health insurance premium can be included in the new tax regime. Its limit should also be increased. This will also encourage people to take adequate health insurance cover.’

    Tax expert and senior chartered accountant Sushil Agarwal said, ‘There is no possibility of relief in the old tax regime as the government wants to phase it out. In the new tax regime, the tax exemption limit can be increased from Rs 3 lakh to Rs 5 lakh. Currently, those with an annual income of up to Rs 7.50 lakh do not have tax liability, it can increase to Rs 9-10 lakh. There is a situation of double taxation on dividends. First the company pays tax on it and then the person receiving it pays tax. This should be abolished.’

    What changes are possible regarding NPS?

    Garg said, ‘The deduction limit for employer contribution in NPS is currently 10% of the basic salary. It can be increased to 14%. This will be similar to the benefits being given to central and state government employees. Also, more cities should be included in the category of metro cities for house rent allowance. This time the government can give metro city status to Bengaluru, Pune, Hyderabad and NCR for this purpose.’ Currently, HRA exemption of up to 50% of the basic salary is available on rented house in Delhi, Mumbai, Chennai and Kolkata. For other cities, the limit is 40%.

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  • Škoda announces new value proposition; Kushaq, Slavia range starts at ₹ 10.69 lakh

    Hyderabad: Škoda Auto India, in continuation to its initiatives of making the brand more accessible, announced the Kushaq and Slavia with higher value, enabling enhanced accessibility to its line-up of cars that are 5-star rated and fully safe for both adults and children, a company media release says.

    Petr Janeba, Brand Director, Škoda Auto India, said: “We have been in India for nearly a quarter of a century, and our commitment to this market is absolute. We have always been looking at offering more in product and affiliated actions. Since the announcement of our all-new compact SUV planned for 2025, we have maintained that with this new car, we are targeting new markets, younger customers and more accessibility to the brand. While the new compact SUV will open new markets for us, we have achieved some efficiencies in the Kushaq and the Slavia, which has enabled us to enhance the value in our offerings and pass on the benefits to our customers and fans.”

    The variants

    The Kushaq and Slavia – earlier available as Active, Ambition and Style – are now rechristened as Classic, Signature and Prestige. The Kushaq, in addition to these three variants also gets the Onyx on the value end and the Monte Carlo at the premium end of the line-up. The all-new pricing is applicable on all engine and transmission options of the Kushaq and select variants on the Slavia. Both cars are powered by a 1.0 TSI petrol with a six-speed manual and automatic, and a 1.5 TSI petrol with a six-speed manual and seven-speed DSG. Both the Kushaq and Slavia come with six airbags as standard across the range, and have achieved a full 5-stars for adults and children under the Global NCAP tests, reflecting the brand’s uncompromising stand on safety.

    The benefits

    Customers stand to benefit by upto 10% based on choice of model, variants, engines and transmission. The maximum benefit will be on the Kushaq Monte Carlo, which will now be offered at an outstanding price point, while the Slavia entry point will be extremely accessible. These new prices also enables customers and fans to avail additional reductions in registration and insurance further stretching the value proposition for the entire line-up.

    Škoda Auto India recently introduced six airbags as standard across all its variants. The new pricing continues making safety as top priority, and offers premium features like ventilated seats, electric seat adjust, wireless Android Auto and Apple Carplay, a 25.4 cm in-car entertainment interface and a sub-woofer embedded in the boot among other comforts.

    Customised and tailor-made offers

    The new value proposition on Kushaq and Slavia will be offered with complete freedom for customers to select what best suits their preferences. This can be clubbed across three large pillars. The first is the unmatched price leverage that customers can enjoy. The second, will be in the form of after-sales offers, maintenance packages and the overall cost of ownership. And thirdly, are the sales levers and value-added services.

    Customers can select from a choice of exchange & corporate bonus options, special finance & insurance schemes run through the banking partners, extended warranty and a host of service and maintenance packages. In the overall cost of ownership and customer experience, the superior mileage offered on both Kushaq (*upto 19.76 Km/L) and Slavia (**upto 20.32 Km/L), along with transparency, quicker servicing timelines, and the expanding dealer footprint have taken forward Škoda Auto India’s strong focus on customer delight.

    “Škoda Auto India is ramping up the network and personnel to get ready for high volume increase with the upcoming launch of the Compact SUV. Our dealers need to be motivated and profitable, with highly trained and experienced sales consultants. And that’s why we have launched the best-ever value proposition on the Kushaq, all across the country, supported with tailor-made, unique customer offers in line with customers’ needs and preferences,” added Janeba.

    More sustainable

    The company’s 1.0 TSI engine recently got certified as E20 compliant by ARAI (Automotive Research Authority of India) and has already debuted in the new Kushaq Onyx AT with other 1.0 TSI cars to roll out soon. The 1.5 TSI is currently undergoing testing, the results of which will be made available by Q4 2024.

    This certification makes the 1.0 TSI the first ever powerplant in India to receive certification from a governing authority. It is in line with government policy requiring every car in India to be E20 complaint from April 1, 2025. Engines that are E20 compliant run on 20% ethanol and 80% petrol, reducing the amount of fossil fuel consumed, reducing emissions and increasing sustainability.

    The Škoda Peace of Mind

    Škoda Auto India has a fleet that is fully 5-star safe for both adults and children as tested by Global NCAP and Euro NCAP. The company also offers a 4-year/100,000kms standard warranty on Kushaq and Slavia, with an option to extend it to 6-years/150,000kms making it one of the most comprehensive warranty packages in the company’s endeavour to offer a hassle-free ownership and maintenance experience. The all-new pricing continues access to these customer-friendly packages.

  • Govt super hit scheme: Your daughter will be 21, she will get ₹ 71.82 lakh, see calculator

    A couple of years in the past, the Central Government had given the slogan ‘Beti Bachao, Beti Padhao‘, which had a large impression. In truth, for many years, there have been some folks in our society who’ve thought of daughters a trigger for concern, however many daughters have additionally repeatedly carried out feats that deliver glory to the nation and their dad and mom.

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    Well, at present our daughters are bringing glory to the household and clan in each area, and there was a change within the pondering, however many households nonetheless exist, the place the whole lot from the schooling and upbringing of the daughters to their marriage Parents are seen getting misplaced within the worries… To assist such dad and mom, there’s a scheme of the Central Government, because of which in case you save repeatedly for just a few years, your daughter will be in a position to get a tax deduction of round Rs 72,00,000 as quickly as she turns 21. She can grow to be the mistress of free white cash, which will be helpful in shaping her future.

    What is Sukanya Samriddhi Account…?

    The identify of this scheme, launched by the Narendra Modi authorities on the Center in its first time period, is Sukanya Samriddhi Account (SSA), below which any Indian citizen can register for a put up workplace or put up workplace as quickly as a daughter is born in her home. SSA account can be opened within the financial institution. After repeatedly investing within the SSA account for 15 years, one will have to attend for six extra years, and as quickly because the daughter completes 21 years of age, an quantity of ₹ 71,82,119 will be seen deposited in her account.

    Also Read: New RTO Rules 2024: New guidelines will be carried out from June 1, Be cautious in any other case you will need to pay a effective of Rs 25,000

    Rules associated to Sukanya Samriddhi Account

    Under Sukanya Samriddhi Yojana, an account, i.e. Sukanya Samriddhi Account, can be opened solely by the daddy or guardian whose daughter is 10 years of age or much less. Like PPF or Public Provident Fund, a most of ₹ 1,50,000 can be deposited yearly on this account, however the minimal quantity that may be deposited yearly in an SSA account is barely ₹ 250. The largest function of Sukanya Samriddhi Yojana is that it is likely one of the highest curiosity paying schemes among the many authorities schemes issued throughout the nation at present, whose account holders are given curiosity on the fee of 8.2 p.c yearly, whereas in PPF at the moment the rate of interest is 7.1 p.c. Interest is being given on the fee of share.

    How to get most advantages…?

    Now be aware, in case you open an account below this scheme as quickly as your daughter is born, then you definately will need to deposit the quantity yearly until the daughter turns 15, which may be a most of ₹ 1,50,000. There will be an opportunity to earn most curiosity in SSA provided that you deposit this quantity within the account earlier than fifth April of each monetary 12 months. By depositing this quantity yearly for 15 years, you will accumulate a complete of ₹ 22,50,000 in 15 years, and when the account matures when your daughter turns 21, she will get a complete of ₹ 71,82,119, offered the present rate of interest stays unchanged. Don’t be.

    Maturity quantity will be fully tax free

    Remember, you had deposited a complete of ₹ 22,50,000 in your daughter’s account in 15 years, and the curiosity share within the whole quantity obtained by the daughter will be ₹ 49,32,119. The most vital side of this quantity is that your daughter will not need to pay any tax on this whole quantity (₹71,82,119). Yes, one factor should be stored in thoughts, the federal government revises the rate of interest each quarter, therefore, because of change within the rate of interest, the quantity obtained by the daughter on the time of maturity of the account might improve or lower.

    Understand the advantages of SSA by the chart

    Now it’s best to perceive by a chart that when and the way a lot quantity do you have to deposit within the SSA account opened in your daughter’s identify, in order that the daughter can get most quantity. If you open a Sukanya Samriddhi account in any put up workplace or financial institution department as quickly as your daughter is born, and deposit the preliminary quantity of ₹ 1,50,000 in it, then after completion of 1 12 months, it will get curiosity on the fee of 8.2 p.c. You will get ₹ 12,300 as capital achieve, which will make the entire authentic funding originally of April subsequent 12 months ₹ 1,62,300. Now, as quickly as ₹ 1,50,000 of subsequent 12 months’s funding is deposited on this account, the quantity on which you will get curiosity on the finish of the second 12 months will be ₹ 3,12,300, and the curiosity obtained on it will be ₹ 25,609.

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  • Paytm UPI Lite Wallet : No hassle of entering PIN every time for UPI payment, load up to ₹ 4,000 in wallet daily, know the method

    Paytm UPI Lite Wallet : No hassle of entering PIN every time for UPI payment, load up to ₹ 4,000 in wallet daily, know the method
    Paytm UPI Lite Wallet : No hassle of entering PIN every time for UPI cost, load up to ₹ 4,000 in wallet each day, know the method

    Paytm UPI Lite Wallet: Users of Paytm UPI Lite Wallet can do transactions up to Rs 500 with out entering UPI PIN. Maximum Rs 2000 may be added twice a day in UPI Lite.

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    Are you drained of entering your PIN time and again for every small UPI cost you make? If sure, then UPI Lite Wallet will help you. Through this you can also make cost with out UPI PIN. Many UPI apps in the nation present such companies. In this connection, you should utilize Paytm UPI Lite Wallet. Through this you may full UPI transactions shortly and simply.

    One97 Communications Limited (OCL), the firm that operates Paytm, stated on Monday that they’re now specializing in UPI Lite wallet to migrate customers preferring to use the wallet for low worth on a regular basis funds. We do. Paytm UPI Lite acts as an on-device wallet, permitting customers to retailer funds and make funds. It gives quick cost facility. It doesn’t require any PIN and it by no means fails.

    Maximum transaction of Rs 500 doable at a time with out UPI PIN.
    Paytm UPI Lite Wallet customers could make transactions up to Rs 500 with out entering UPI PIN. This will make the cost course of simpler and quicker. Maximum Rs 2000 may be added twice a day in UPI Lite. In this manner, through the use of this function you may load a most of Rs 4 thousand in a day.

    How to activate UPI Lite in Paytm

    • First open Paytm app
    • After this faucet on UPI Lite Activate icon on Paytm dwelling web page.
    • After this choose the eligible checking account for UPI LITE
    • Enter the quantity to be added to UPI LITE
    • Validate the UPI PIN by entering it. In this manner UPI Lite account will probably be created.
    • Once UPI LITE account is created, you can also make UPI cost with out entering PIN.

    Pet Travel Rules : What are the guidelines for taking pets in flights and trains, know right here the pointers of Railways and Airlines

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  • Tax Savings: Senior citizens can avail tax exemption up to ₹ 1.5 lakh, Check Scheme Complete Details

    Tax Savings: Senior citizens can avail tax exemption up to ₹ 1.5 lakh, Check Scheme Complete Details
    Tax Savings: Senior citizens can avail tax exemption up to ₹ 1.5 lakh, Check Scheme Complete Details

    Tax Savings in FY25, SCSS: The goal of SCSS is to present a daily revenue to senior citizens after retirement. In this scheme, taxpayers can declare tax deduction on deposits up to Rs 1.5 lakh yearly beneath Section 80C.

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    Tax Savings in FY25, SCSS: Government Scheme Senior Citizen Savings Scheme (SCSS) is a greater scheme for tax financial savings of senior citizens. This scheme is for Indian citizens above 60 years of age. The goal of SCSS is to present a daily revenue to senior citizens after retirement. Under the scheme, taxpayers can declare tax deduction by depositing up to Rs 1.5 lakh yearly beneath Section 80C. Let us let you know, at present there are two forms of tax regimes within the nation. New tax regime and previous tax regime. Tax deduction of part 80C can be claimed solely within the previous tax regime.

    SCSS is offered in authorities/non-public sector banks and publish workplaces. Being a authorities scheme, the returns on it are assured. The deposit quantity matures after 5 years from the date of opening of SCSS account, however this tenure can be prolonged solely as soon as for 3 extra years. From January 1, 2024, this scheme is providing 8.2 p.c curiosity yearly.

    Under SCSS, curiosity is paid each three months, guaranteeing maturity of your funding. Interest shall be credited on the primary day of each April, July, October and January.

    SCSS: How a lot tax shall be saved?

    SCSS has a greater tax exemption scheme. Tax exemption can be claimed beneath Section 80C of the Income Tax Act, 1961 on annual deposits up to Rs 1.5 lakh in SCSS. Tax legal responsibility on curiosity acquired on SCSS shall be as per the tax slab relevant to people. If the curiosity revenue in a monetary yr is greater than Rs 50,000, then Tax Deducted at Source (TDS) shall be deducted. Investment in SCSS is relevant from 2020-21 onwards until TDS deduction. If the curiosity revenue doesn’t exceed the prescribed restrict, then you definitely can get reduction from TDS by submitting Form 15G/15H.

    Where will the account be opened, what’s the most deposit?

    The minimal deposit in SCSS is Rs 1,000. Whereas most Rs 30 lakh can be deposited. Senior Citizen Savings Scheme account can be opened in any licensed financial institution of the nation or in all Indian publish workplaces. For this, the account opening type can have to be crammed and submitted together with the copy of KYC doc, which incorporates passport dimension {photograph} together with id card, deal with proof and age proof.

    Under SCSS, an individual aged 60 years or extra can open an account. If somebody is 55 years or extra however lower than 60 years and has taken VRS, then he can additionally open an account in SCSS. But the situation is that he can have to open this account inside one month of receiving the retirement advantages and the quantity deposited in it shouldn’t be greater than the quantity of retirement advantages.

    Know mature and pre-mature guidelines

    Please notice that SCSS account shall be closed in case of loss of life of the account holder earlier than maturity and all of the matured revenue shall be transferred to the authorized inheritor/nominee. For loss of life declare, the nominee or authorized inheritor can have to submit a written utility within the prescribed format together with the loss of life certificates to facilitate account closure.

    Nomination facility is offered on the time of opening and shutting of accounts in Senior Citizen Savings Schemes. This account can be transferred from one publish workplace to one other. In this the account holder can do untimely closure. But no curiosity shall be given if the publish workplace account is closed inside 1 yr of opening. If curiosity has been paid, it will likely be recovered from the principal quantity. On closing the account after 1 yr and earlier than 2 years, 1.5 p.c of the deposit shall be deducted. Whereas if the account is closed after 2 years of opening and earlier than 5 years, 1 p.c of the deposit quantity shall be deducted from the principal quantity.

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