Monthly Income Scheme (MIS)
Monthly Income Scheme (MIS)
True to its name, the scheme features interest payable at the contracted rate every month,MIS deposit is accepted for any period from one year to five years
- Earn up to 10% p.a. from Monthly Income Scheme with ALBION INDIA NIDHI LIMITED.
- Interest is paid/credited to the Savings account of the member during the last week of every month.
- Nomination Facility available for this scheme.
- Maturity Amount will be given to member after minimum term 1 year & maximum term 5 years.
- To enable the depositor(s) to earn high rate of Interest below are the slabs for Interest Rates provided:
| Change Slab Rates | 1 year | 2 year | 3 year | 4 year | 5 year |
|---|---|---|---|---|---|
| @ 8% | @ 8.5% | @ 9% | @ 9.5% | @ 10% | |
| 100000 | 667 | 708 | 750 | 792 | 833 |
| 200000 | 1333 | 1417 | 1500 | 1583 | 1667 |
| 500000 | 3333 | 3542 | 3750 | 3958 | 4167 |
| 1000000 | 6667 | 7083 | 7500 | 7917 | 8333 |
| 1500000 | 10000 | 10625 | 11250 | 7917 | 12500 |
Common Notes for Fixed Deposit Scheme & Monthly Income Scheme:
- It is mandatory to become a member in ALBION INDIA NIDHI LIMITED to open F.D. & M.I.S. Account.
- ALBION INDIA NIDHI LIMITED will issue Ten share having Nominal value of Rs. 10/- for F. D. & M.I.S. Account.
- Rate of Interest for Senior Citizen shall be 0.50 % higher than normal prevailing interest rate on F. D. & M.I.S. Account.