Term Deposits
Term Deposits are opened by the following
1.. Individuals
2. Institutions
3. Societies
- Any person or persons approved by the Bank.
- Co-operative Societies, Registered Trust, Institutions and Associations.
- By two or more persons in their joint names.
- By a natural guardian i.e., father or mother approved by the bank on behalf of a minor.
Rs.100/-
- Interest will be paid on the deposits at the rates in force as per the Reserve Bank’s directive from time to time.
- Interest amount will be paid at the time of maturity.
The Bank will issue a receipt in favour of the depositor/s showing the amount deposited, the period for which the deposit is accepted, maturity date and maturity amount. Loan against deposit amount is available.
| INTEREST RATES ON DEPOSITS | ||
| SNO | PERIOD | RATE OF INTEREST |
| TERM DEPOSITS | ||
| 1 | 15 Days to 45 Days | 4.50% |
| 2 | 46 Days to 90 Days | 5.50% |
| 3 | 91 Days to 180 Days | 5.75% |
| 4 | 181 Days to 364 Days | 7.00% |
| 5 | 1 Year to 2 Years | 7.75% |
| 6 | 2 Years & Above | 7.00% |
| SPECIAL RATES | ||
| 1 | SENIOR CITIZENS | 0.50% |
| 2 | PACS & EMPL. CS | 0.50% |
| 3 | URBAN BANKS | 0.50% |
| 4 | VOLUNTARY ORGANISATIONS TRUST & ENDOMENTS | 0.50% |