Karnataka based Tumkur Merchants Credit Cooperative Society launched an innovative scheme namely- TMCC Gold Fixed Deposit last week.
Under the scheme, the investor who invests a sum of Rs 1 lakh to Rs 20 lakh gets life insurance equal to the deposit amount will not need to pay insurance premium.
The investor has to deposit the money for 36 months for availing the benefit of the scheme. The investor will get 7.5 percent interest rate on the amount invested and will get the interest quarterly.
Interested investors can visit the TMCC website or its branches.