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Fixed Deposit

Deposits are Fixed term deposits repayable after an agreed period fixed at the time of making the deposit. The interest on the deposit is payable periodically i.e. monthly/quarterly/half yearly/yearly as per the request of the depositor.

Terms:

  • The minimum amount accepted by us under Fixed Deposit Scheme is Rs.10,00,000/- for payment of monthly interest
  • The minimum amount accepted by us under Fixed Deposit Scheme is Rs.2,00,000/- for payment of quarterly, half-yearly and yearly interest.
  • Minimum period of deposits is 12 months and maximum period is 60 months.
  • Bulk deposits are those deposits with amounts from Rs.1,00,00,001/- (Rupees One Crore and one only).
  • Additional interest of 0.50% for senior citizens, aged 60 years and above paid for deposits upto Rs.1,00,00,000/- (Rupees One crore only). Interalia, the said additional interest is not available for bulk deposit.
  • Additional interest of 1% paid on deposits of our staff members (who are on rolls or retired).
  • Interest rate structure on our Fixed Deposit Scheme w.e.f. 27/08/2020, is as follows:
Period of deposits in months
Deposits upto Rs.1 cr
Bulk deposits  >Rs.1 cr
General Public
Senior Citizen

12

6.50%

7.00%

6.50%

13-36

6.75%

7.25%

6.75%

37–48

6.75%

7.25%

6.75%

48–60

6.75%

7.25%

6.75%