Term Deposit
Term Deposit is a deposit kept for a fixed period. The time period of the deposit is decided at the time of opening a new Receipt/account. The deposit can be withdrawn / renewed on maturity of the period decided.
Features :
- > The minimum period of deposit is 7 days
- > The minimum amount of deposit is Rs.100/-
- > Repayment of interest can be done as per the instructions of the depositor i.e either on monthly or quarterly or on maturity, Loan can be granted against deposit.
Auto-renewal of Fixed Deposit is Available :
- > The renewal can be with or without interest as per the instruction of the depositors given at the time of opening the receipt.
- > Standing order for interest credit facility is available.
| INTEREST RATES ON TERM DEPOSITS (W.E.F. 06.01.2025) | ||
|---|---|---|
| PERIOD | GENERAL PUBLIC | SENIOR CITIZENS |
| 7 DAYS TO 90 DAYS | 4.50% | 4.50% |
| 91 DAYS TO 180 DAYS | 5.00% | 5.00% |
| 181 DAYS TO 12 MONTHS | 5.25% | 5.25% |
| 13 MONTHS TO 24 MONTHS | 7.25% | 7.75% |
| 25 MONTHS TO 36 MONTHS | 7.75% | 8.25% |
| 37 MONTHS TO 120 MONTHS | 6.50% | 7.00% |
| 444 DAYS | 8.25% | 8.25% |
Cumulative Deposit
Features :
- > Depositing a fixed amount for a fixed Period
- > Depositors earn interest on interest
- > The minimum period of deposit is 1 year & maximum up to 10 years
- > A loan can be granted on the accumulated deposit
Other Features :
- > The Bank has implemented core banking in all its branches/offices
- > One time deposit of Rs. 15 Lacs and above, get additional 0.50% interest.
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