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IOB unveils new tax saving deposit scheme
September, 19th 2006
Indian Overseas Bank has rolled out a new tax saving deposit scheme with a free personal accident insurance cover for Rs 1 lakh. Interest rate under this scheme will be 8.15 per cent for regular depositors and one per cent higher for senior citizens. The tenure of the deposit has been fixed for 5 years and above and the minimum acceptable at Rs 10,000 for availing of tax benefit under Section 80 C of the IT Act.
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