Deposits



Term Deposits


  • Fixed Deposit Scheme
  • Money Multiple Certificate
  • Recurring Deposit

Rate of Interest on Deposit effective from 20th January 2017

Period ROI
30 Days To 45 Days 4.25%
46 Days To 90 Days 5.25%
91 Days To 180 Days 5.75%
181 Days To 12 Months 6.00%
13 Months To 18 Months 7.00%
19 Months To 36 Months 6.25%
37 Months To 60 Months 6.00%

For Senior Citizen 0.50% Extra on Deposits above 13 months

  • Investment under this scheme can be done individually or jointly or in the name of minors or organizations or companies or association of persons.
  • Amount Invested under this scheme carries a fixed Rate of Interest for the term Invested.
  • Interest earned can be withdrawn periodically i.e., Monthly, Quarterly, half yearly or annually or at the time of Maturity.
  • Periodic interest withdrawal can be through Cash or Standing Instruction to other account (SB / RD) or Interest Warrants (Post dated Cheques)
  • Interest Earned from Deposits in excess of Rs.10000/- per year are subject to deduction of TDS as per instructions from the Income Tax Department.
  • Customers producing Form 15G / 15H are exempted from TDS.
  • Deposit can be withdrawn before its maturity with advance notice and by having a penalty assessed (except in case of reinvestment).


Downloads

Letter for Premature Closure of Deposit



Rate of Interest on Deposit effective from 20th January 2017

Period ROI
13 Months To 18 Months 7.00%
19 Months To 36 Months 6.25%
37 Months To 60 Months 6.00%

For Senior Citizen 0.50% Extra

  • Investment under this scheme can be done individually or jointly or in the name of minors or organizations or companies or association of persons.
  • Minimum period for Investment is 13 Months
  • Quarterly Compounded Interest
  • The Deposit amount along with interest is payable only at the time of Maturity.
  • Non-Members earning interest from Deposits in excess of Rs.10000/- per year are subject to deduction of TDS as per instructions from the Income Tax Department.
  • Customers producing Form 15G / 15H are exempted from TDS.
  • Deposit can be withdrawn before its maturity with advance notice and by having a penalty assessed (except in case of reinvestment).


Downloads

Letter for Premature Closure of Deposit



Rate of Interest on Deposit effective from 20th January 2017

Period ROI
12 Months 6.00%
13 Months To 18 Months 7.00%
19 Months To 36 Months 6.25%
37 Months To 60 Months 6.00%

For Senior Citizen 0.50% Extra

  • Monthly Deposit Scheme.
  • Investment under this scheme can be done individually or jointly or in the name of minors or organizations or companies or association of persons.
  • Period for Investment is 12 to 39 Months
  • Quarterly Compounded Interest
  • The Deposit amount along with interest is payable only at the time of Maturity.
  • Deposit can be withdrawn before its maturity with advance notice and by having a penalty assessed.


Downloads

Letter for Premature Closure of Deposit