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% |