Provident fund solution account is a type of saving deposit that is opened for administration of provident funds accounts. It is the account benefits different private organizations and their employees.
Underlying Features of the Product
The account can be opened with zero balance in the name of individual employee;
The Customers will earn higher interest than normal saving deposit;
The Bank may grant a term loan facility to account holders, up to a maximum amount equal to the deposited provident fund amount, for the purchase of consumer durable goods, house, vehicles and/or any other fixed asset;
The Bank may provide account statement monthly free of charge.
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