Product - Fixed Deposit
Fixed Deposit scheme is suitable for those depositors who intend to receive monthly income/interest to meet the expenditure for periodical requirements/obligations i.e. Amount for medicines, rents, livelihood, payment of fees, insurance premia etc. In this scheme PRINCIPAL amount will be INTACT and the depositors can take the Interest PAY OUT at Monthly, Quarterly, Half Yearly OR Yearly frequency as per Depositor’s Choice.
1. Fixed Deposits accounts can be opened for a minimum period of 6 months to a Maximum period of 10 years
2. Premature withdrawals are allowed, with penalty on interest earned (Premature renewal of Deposit for a longer period will not be penalized)
3. Loans/ Overdraft facility (upto 85% of deposit amount) against deposits are available IV. Auto renewal facility on maturity of the deposit for original period of deposit, in the absence of disposal instruction is available.
4. The interest is paid at Monthly, Quarterly, Half-Yearly and Yearly intervals as per the option of the customer.
5. Standing Instructions on payment of interest will be executed
6. TDS is applicable as per I.T Rules
For Know your customer Guidelines : click here
For present Interest Rates : click here
For Nomination Facility : click here