A scheme for High Return on your Savings even for a short period of less than 12 months.
- An ideal option for all transitory savings to meet the requirements.
TERMS AND CONDITIONS
- Minimum deposit amount of Rs 10,000.-
- Minimum period of deposit – 3 months
- Maximum period of deposit – 6 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
- Rate of interest depends on maturity period and is linked to Savings Bank Rate.