We have a special variant with zero Monthly average balance requirement on Opening a RD linked with your Savings Account for a minimum amount of Rs. 2000 with an option to transfer the proceeds to a Tanishq Jewellery card at maturity*(discontinued with effect from 23rd July 2018).
This is how it works:
- Open a RD linked with your Savings Account
- Provide Standing instructions for transfer of monthly RD installment from your Savings Account
- Earn interest on RD at the applicable rate for 1 year for example 7.75%**
- On maturity the proceeds of your RD will be transferred to a Tanishq Jewellery card as per your instructions.*
- Present this Tanishq Jewellery card at any Tanishq out let to make the payment while purchasing Tanishq Jewellery and avail 80% of monthly installment amount as discount which is inclusive of interest earned on the RD .
- You can continue to enjoy the zero balance facility by opening a new RD of Rs. 2,000 and above.
- Zero Balance facility shall continue till such time the RD installments are being paid from the linked savings account. Upon maturity of RD, and in order to continue with zero balance facility a new RD is to be opened every time the existing RD matures.
- If the new RD is not created, condition of MAB will apply.
You also have an option to choose a regular variant with Rs. 10K monthly average balance requirement without opening a RD. All the benefits of Advantage woman Savings account will be offered to this variant.
* Even after maturity if you do not want to re-invest in the scheme, the available balance in the Tanishq Jewellery card can be moved to your linked savings account.
**Interest rates are subject to change.
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