The women oriented bank- Bhartiya Mahila Bank of the country has recently launched an exclusive recurring deposit scheme. The new recurring deposit scheme named ‘Nanhi Kali’ is especially for the girl child.
According a report from the bank all the gild children in the age from 1 day to 13 years are eligible for the scheme with a minimum investment of Rs 50 or more but it should be the multiples of 50. In this scheme bank offers the facility to deposit the installment on any day of the month Further bank also offer the option of the loan facility of the 85% of the total collected value. The term of the deposit is three years to 10 years and carries an assured maturity with personal accident insurance.