What's CGAS and which bank is permitted to open such account?
1) How it works?
2) What is the interest paid?
3) Is loan possible to meet contingency?
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What's CGAS?
Replies (1)
| Feature | Details |
|---|---|
| Purpose | To park capital gains till reinvestment |
| Types | Type A (savings), Type B (FD) |
| Interest | Same as bank SA/FD; taxable |
| Loan facility | Not allowed |
| Withdrawals | Allowed only for approved construction/purchase |
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