Fund or Custodian Management Services
NIB Fund/Custody Management Service will hold securities of some institutions in electronic or physical form.
The Bank will provide a secure facility for the safekeeping of fund assets. The assets would be safely held and accurately recorded through regular reconciliation.
- The fund offers the benefit of a cash payout, usually in the form of a lump sum payment in the future, when the ability to save would have been impacted because of old age.
- The regular deductions from source ensures the ease of savings.
- Returns on fund assets are usually cumulative because interest earns interest in addition to the principal amount.
- There is the opportunity to enjoy tax exemptions from the fund.