Tasthana - Fully Flexible Deposits



We are a start-up located in Bangalore and we have made a very innovative and novel product called Tasthana or Flexible Bank Deposits with a Patent applied for it.

Patent Application No: 201641021201, Dated: 21-06-2016 and Fast-tracked.

Please see below:

  1. Tasthana means as flexible as the stalk of a lotus.

  2. It is a totally flexible deposit where you can increase or decrease the principal, interest and tenure whenever you want.

  3. It can have a single, joint or a consortium of depositors.

  4. It computes TDS automatically and factors Form 15 H/G apart from calculating Penalties and GST.

  5. It has Reverse Annuity with single and multiple beneficiaries, each getting the same or different amount. The Reverse Annuity can be Amount Based with or without Tip-up or Tenure Based.

  6. It combines all Sweep Deposits if the interest rate is the same.

  7. In short it is a one stop super market for deposits as it handles all the current features of the existing deposits and much more.

  • It should help the bank increase its deposit base by a least 10% and if we take a sample deposit base of ₹ 3,000 crores, then the increase is ₹ 300 Crores.
  • For ₹ 300 Crores, if the liability is 6% and if 60% of Deposit is lent at 13%, then the gain to the bank is over ₹ 5 Crores.

We have lined up POCs with banks and expect to touch Rs. 5 Crore by June 2018.

We need a Partner who can invest Rs. 32 Lakhs for 10% Equity or Debt which will help for Working Capital and conducting POCs.

If interested then please send reply to partho■annona.in

With best regards,

Partho H. Chakraborty
Annona IT Solutions Pvt. Ltd.


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