KVB Tax-Shield

Deposits made under KVB’s Tax Shield qualify for tax benefits under Section 80 C of the income tax act up to a sum of Rs.1.00 lac.

• Deposits will be accepted both under cumulative and non-cumulative options.
• Deposits will be accepted in the name of Individual/s and also in the name of Kartha of HUF.
• The scheme is for a fixed period of 5 years.
• Nomination facility is available

• The minimum amount that can be invested under this scheme is Rs.100/- and multiples thereof. The maximum amount is restricted Rs.1.00 lac.
• Premature Closure is not allowed as the deposit is under lock-in period for 5 years.
• In case of Joint account, the deduction under Section 80 C shall be available only to the first holder of the deposit.
• Deposit Loans are not allowed.
• TDS will be deducted at applicable rates.