Deposits

Fixed Deposit Account

Salient FeaturesA deposit for a fixed period carrying a fair interest.
EligibilityIndividuals – Single Two or more individuals severally or jointly, Payable to either or survivor, any one or survivor or jointly, Minor person through their guardians, Illiterates, Blind and handicapped people. Executors and Administrators. Liquidators and Receivers. Sole Proprietorship concerns and Partnership firms, Joint Hindu families firms, Corporate Companies. Trusts, Non-Corporate entities like Clubs, Associations, societies etc. Schools, Colleges. Government / Semi-Government bodies..
Min AmtRs.1000.
Max AmtNo Maximum
Min Period46 Days
Max Period120 Months.
Other Requirements/Details
  • Simple interest payable at quarterly or longer rest. Monthly payment of interest at discounted rate.
  • Interest cheques will be sent to the address of the depositor/ credited to his/her account with the Bank.
  • Loan facility: Upto 90% of the principal amount with rate of interest at 2% p.a. over the rate of interest paid on the deposit.
  • Deposits can be foreclosed before the maturity date with the penalty prevailing on the date of such foreclosure.
  • TDS will not be deducted for the Deposits of members.
  • TDS will be deducted in the case of NON Members as per section 194A of Income Tax. Where the depositor is not attracted to income tax, he/she has to furnish a declaration in form no.15G/15H indicating therein PAN.
  • Where the Depositor has not given any instruction, the deposit will be renewed for a further period equivalent to the original period of the deposit or for a minimum period of 12 months.

  • The customer s can vary the contract terms like period etc within n 14 days from the date if such auto renewal.
  • Premature renewal facility without penalty is available provided the term deposit is extended for a further period longer than the original period.
  • Nomination Facility Available.

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