The Bharatiya Mahila Bank has launched ‘Nanhi Kali’, an exclusive recurring deposit scheme for the girl child. The entry age of the minor is one day to 13 years with minimum monthly investment of Rs 50 or a higher amount in exact multiples of Rs 50. The bank provides flexibility to deposit the instalment on any day of the month, protection against a fall in rate of interest, and loan facility of 85% of the accrued value. The term of the deposit is three years to 10 years and carries an assured maturity with personal accident insurance.
