SAVING ACCOUNTS

Muthu translated to English depicts a pearl, and aims to link childhood to the traits of a pearl. The brand Singer, introduced Hire Purchase to the world way back in 1851 and then the beginnings were humble and small, although a Savings products is not an innovation, the company’s track record speaks of a high success rate and we remain optimistic that the simple beginning of “Singer Muthu” savings is the beginning of a family of new products which will one day be a success story to be spoken about.

MINOR SAVINGS - (Singer 'MUTHU')

Save for your child with higher interest rate instead of having Gifts.

Interest Rate – 6.00% (Only for Children’s age under 18 Years)

Initial Deposit will be Rs.300/= and no withdrawals are allowed till the child becomes Major.

Documents Required :

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Childs Birth Certificate

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Copy of NIC or Passport Copy of the guardian

ORDINARY SAVINGS

Interest Rate – 5.50% (For above 18 Years of Age and under 55 Years)

Initial Deposit will be Rs.300/=

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Copy of NIC or Passport

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Billing proof if customer address differs from the identification provided

SENIOR CITIZENS SAVINGS

Interest Rate – 5.50% (For above 55 Years of Age)

Initial Deposit will be Rs.300/=

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Copy of NIC or Passport

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Billing proof if customer address differs from the identification provided

Scheme 1

MINOR SAVINGS - (Singer 'MUTHU')

Save for your child with higher interest rate instead of having Gifts.

Interest Rate – 6.00% (Only for Children’s age under 18 Years)

Initial Deposit will be Rs.300/= and no withdrawals are allowed till the child becomes Major.

Documents Required :

null

Childs Birth Certificate

null

Copy of NIC or Passport Copy of the guardian

Scheme 2

ORDINARY SAVINGS

Interest Rate – 5.50% (For above 18 Years of Age and under 55 Years)

Initial Deposit will be Rs.300/=

null

Copy of NIC or Passport

null

Billing proof if customer address differs from the identification provided

Scheme 3

SENIOR CITIZENS SAVINGS

Interest Rate – 5.50% (For above 55 Years of Age)

Initial Deposit will be Rs.300/=

null

Copy of NIC or Passport

null

Billing proof if customer address differs from the identification provided

RATES EFFECTIVE DATE: 01.07.2020