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For Any Query!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 The deposit can be withdrawn / renewed on maturity of the period decided.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 Deposits is available
- The Fixed deposit receipt will be renewed automatically on maturity date.
- Standing instruction for interest credit facility is available.
|
Interest Rates on Term Deposits |
||
|---|---|---|
| Period | General Public | Senior Citizens |
| 7 days to 90 days | 4.25% | 4.25% |
| 91 Days to 180 days | 4.75% | 4.75% |
| 181 Days to 1 Year | 5.50% | 5.50% |
| Above 1 Year to 2 Years | 7.00% | 7.50% |
| Above 2 Years to 3 Years | 7.75% | 8.25% |
| Above 3 Years to 5 Years | 7.50% | 8.00% |
| Above 5 Years to 10 Years | 7.00% | 7.50% |
| 15 Months (Special Deposit Scheme) | 7.75% | 8.25% |
Cumulative Deposit
Features
- Depositing a fixed amount for a fixed Period
- Interest is on quarterly compounding basis
- Depositors earn interest on interest
- Minimum period of deposit is 1 year & maximum up to 10 years
Other Features
- The Bank has implemented core banking in all its branches/offices
- No Additional interest will be given to single deposit of Rs.1 Crore and above.
Annual Report 2023-24
