A scheme for High Return on your Savings even for a short period of less than 12 months.

BENEFITS

  • 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

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 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

  • Rate of interest depends on maturity period and is linked to Savings Bank Rate.