TERMS AND CONDITIONS

  • Minimum deposit with specific maturity amount of Rs25,000/- and further multiples of Rs. 5000/-
  • Period of deposit – 24 months.

FEATURES

  • 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, interest rate payable on Savings Bank Deposit on the value date of receipt will be paid.
  • Accepted as margin for non-fund based facility
  • Accepted as collateral for overdrafts and loans

INTEREST PAYMENT

  • Rate is fixed.
  • Payment of interest at the time of maturity.
  • An additional interest at 0.50% for Pensioners under Social Security System.