A. Monthly Income SchemeWho can open an accountAny individual can either singly or jointly open this account. It can also be opened by minor who has attained age of ten years.
How to make deposit There shall be only one deposit in the account
Limit on DepositThe minimum deposit required is Rs.6,000 and the maximum permissible deposit is Rs.3,00,000 for a single account and Rs.6,00,000 for a joint account.
Return on investment8% p.a. payable monthly.
Tenure The tenure of account is 6 years
Premature WithdrawalThe amount deposited can be withdrawn after 3 years. If the amount is withdrawn before 3 years then 5% of the amount deposited shall be deducted.
Tax liabilityThe interest qualifies for deduction under section 80L up to a maximum limit of Rs.9,000. No TDS is deducted from interest. The wealth tax exemption is available. The bonus also qualifies for deduction under section 80L.
NominationsNomination facility is available.
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About the Company
Year of Establishment2002
Legal Status of FirmIndividual - Proprietor
Nature of BusinessService Provider
Number of EmployeesUpto 10 People
Annual TurnoverRs. 10 - 25 Crore
IndiaMART Member SinceFeb 2011
Right Investments is an investment supermarket offering more than 1000 Mutual fund schemes, Life Insurance,Mediclaim, General insurance:Motor, Home, Overseas Travel insurance, Postal Saving Secheme: MIS, NSC, KVP, Senior Citizen Secheme, P.P.F, GOI Bonds and initial public offering of bonds , debentures & shares Right Investments offers a web presence to their clients through which their clients consolidates investment management reports namely