Section 12(2) in The National Housing Bank (Tax Saving) Term Deposit Scheme, 2008
(2)The interest will he paid either in lump sum at the time of maturity or it may be paid yearly/half yearly depending upon the option exercised by the depositor.(a)Fixed Deposit. - The fixed deposit can be issued with half yearly/yearly interest payment option with interest compounded quarterly.(b)Cumulative Deposit. - Interest is compounded at quarterly rests and payable with principal on maturity.
