Millionaire Deposit Scheme: Millionaire Deposit Scheme (MDS) Account is a time specified monthly deposit scheme for clients where the deposited money will become one million on maturity.
Features and Benefits:
1. Tenor: 4, 5, 6, 7, 8, 9 and 10 year’s term;2. Deposit on monthly installment
basis;
3. Attractive rate of interest;
4. Account can be opened at any working day of the month;
5. Monthly installment can be deposited through a standing debit instruction
from the designated CD/SB Account;
6. Monthly installment can be deposited in advance;
7. An account can be transferred from one branch to another branch of the bank;
8. Credit facility for maximum of 2 years can be availed at any time during the
period of the scheme;
9. Allowed to open more than one MDS Account for different amount at any branch
of the Bank;
But these features and benefits can be varied
bank to bank.