Capital Gain Account Scheme

Capital Gain Account Banner Capital Gain Account Banner

Open a Saving Account or
a Team Deposit Account
under CGAS 1988 with
IDBI Bank

Overview

IDBI Bank has been authorized to accept deposits under the Capital Gains Accounts Scheme (CGAS), 1988 (Gazette notification dated November 29, 2012 from CBDT)

The scheme facilitate investment in order to save Capital Gains tax for the Capital Gains made by selling a capital investment like residential house, flat, shares, family businesses, farm houses, agriculture land etc. under Central Governments Capital Gains scheme, 1988.

IDBI Bank’s Capital Gain Account Scheme can be availed by

  • Resident Individuals
  • Body of individuals
  • Non-individuals like Hindu Undivided family (HUF)
  • Sole proprietorship firms
  • Partnership firms companies
  • Association of persons etc.
IDBI Bank Capital Gain Account Features
Nature of facility

Acceptance of deposits in the form of Savings Deposit or Term Deposit for availing benefit under CGAS, 1988 by the depositor

Target Segment

All entities of investors looking at investment to save Capital Gains Tax

Types of deposit

There will be two types of deposit accounts

  • Deposit Account-A: Saving Account.
  • Deposit Account-B: Term Deposit Account
Minimum Amount

Minimum amount should be Rs. 10,000/-

Maximum Amount

Maximum amount should be Rs. 100 Crore

Minimum /Maximum period
  • 15 days minimum and maximum upto 20 years
  • 45 days minimum and maximum 20 years for senior citizen
Rate of interest-
  • Deposit A: Savings Bank rate as per RBI guidelines
  • Deposit B: As decided by ALCO from time to time

Retail, Preferential and Bulk category- Existing Term Deposit Card rate for retail, Premium and Bulk deposit as applicable

Senior Citizen - Senior Citizens get an extra benefit on the interest rate (0.5% extra) for deposit from 1 year and above.

TDS

                

As per extant IT guidelines

How To Apply

Applying for a Capital Gain Account in 3 easy steps.

01. Get In Touch

Call on our Phone Banking numbers - Toll Free -
1800-209-4324
1800-22-1070 (24x7 service)

02. Visit Our Branch

Visit the nearest branch.

03. Receive a Call Back

Our representative will contact you at the earliest.