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:
- For payment of monthly interest, the minimum amount eligible for acceptance/renewal is Rs.10,00,000/- (Rupees Ten Lakh only).
- For payment of quarterly, half yearly or yearly interest (not eligible for monthly interest), the minimum amount eligible for acceptance/renewal is Rs.2,00,000/- (Rupees Two Lakh only).
- 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. 19/07/2018, is as follows:
|
Period of deposits in months
|
Deposits upto Rs.1 cr
|
Bulk deposits >Rs.1 cr
|
|
General Public
|
Senior Citizen
|
|
12
|
7.50%
|
8.00%
|
7.60%
|
|
13-36
|
7.60%
|
8.10%
|
7.65%
|
|
37–60
|
7.60%
|
8.10%
|
7.65%
|