National Development Bank PLC (NDB), as a bank that strives to instil and inspire the nation to save, launched its latest product to the market – ‘NDB Savings Planner’.
The bank introduced this product with an aim to foster financial discipline amongst the ones who aspire to reach their future goals while conveniently investing for a secured future.
This unique savings proposition assures a greater return, offering the customer the option of depositing an agreed monthly sum for an agreed maturity value. It also comes with the distinctive advantage of establishing an end target value in mind. All this comes to the customer at a guaranteed rate of interest for the entire tenure. The maturity values will range from Rs.250,000 to Rs.10 million with tenures ranging from two to 18 years. This long-term commitment will have no withdrawals.
The NDB Savings Planner is tailor made to suit your requirements and help you make most of your savings. Customers will have the option of depositing a lump sum and select a specific monthly commitment to reach a specific maturity value at the end of the selected maturity period. By doing so, the customer will have an advantage of making a minimum monthly commitment. For example, you deposit a lump sum of Rs.100,000 for five years and agree for a maturity value of Rs.1 million, the monthly commitment is Rs.10,899.
Another option is to reach the selected maturity value ‘without depositing a lump sum’ but with only a monthly commitment at the end of the selected maturity period. For example, you set a target of Rs.1 million for five years with a monthly commitment of Rs.12,983.
While focusing on your investment, it is important that you help your children reach their future dreams. NDB Savings Planner is also an ideal solution for parents who wish to make the most of their savings for their little ones. Parents can make a simple monthly deposit and allow this deposit to grow.
The customer can also be up-to-date and watch his savings mature through the NDB e-statements and the NDB mobile banking app.