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Saturday, Aug 12, 2006

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Karnataka Bank's new schemes

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Mangalore, Aug. 11

Karnataka Bank Ltd has launched two new tax-saving term deposit schemes — `KBL Tax Planner-FD' and `KBL Tax Planner-ACC'. A bank release said here the schemes provide dual benefits of high returns and tax exemption under Section 80 (C) of the Income Tax Act 1961. The period of deposits is five years with a minimum deposit amount of Rs 100 and a maximum of Rs 1 lakh.

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