An ideal scheme for High Return on your deposits and to supplement your income
TERMS AND CONDITIONS
- Minimum deposit amount of Rs 10,000.-
- Minimum period of deposit – 12 months
- Maximum – 60 months
Overdraft against deposit provided on demand up to 90% of deposit amount without any guarantor.
Loan against deposit provided on demand up to 95% of deposit amount without any guarantor.
In case of premature payment, the deposit has to run for a minimum period of three months to earn interest.
In case it has run for more than three months, interest @ 1% below the rate applicable for the period deposit has run with the banks will be paid.
- Accepted as margin for non-fund based facility
- Accepted as collateral for overdrafts and loans
INTEREST PAYMENT ON DEPOSIT UP TO Rs5.0MN W E F 25.08.2016
Rate of interest depends on maturity period and is linked to Savings Bank Rate.
Interest is payable monthly/quarterly/annually as per your convenience.
Interest may be credited to your SB account .
Present Rates of Fixed Deposits are:
Period of Deposit
|3 months and above but less than 6 months||
2.65% i.e 0.15% above Savings Bank Rate
|6 months and above but less than 12 months||
2.75% i.e 0.25% above Savings Bank Rate
|12 months and above but less than 24 months||
3.00% i.e 0.50 % above Savings Bank Rate
|24 months and above but less than 36 months||
3.25% i.e 0.75% above Savings rate
|36 months and above but less than 60 months||
3.50% ie. 1.00% above Savings Bank Rate
INTEREST PAYMENT ON DEPOSIT Rs5.0MN & ABOVE
Rate of Interest will be fixed on request from 0.5% to 4.50%
For further details kindly check our BOM template on Fees and charges on the home page