Eligibility :
Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Blind persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a “Naini Gold Sweep In" Account" in single/joint name/s.
Features:
The sweep unit will be of 90 days for saving account and 30 days for current account.
The unit value will be of Rs.25000/- for saving account and Rs.100000/- for current account.
Unit will be liquidated in Last In First Out system.
Tax is deducted at source, from the interest on Naini Gold Sweep In, as applicable, as per the Income Tax Act, 1961.
Nomination facilities are available.