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Term Deposit Scheme :

Eligibility

Individual or HUF

Amount of Deposit

Minimum Rs 100/- Or im muliple thereof with maximum of Rs. 1 lakh in one Year i. e. from 1st April to 31 st March.

Tenure of the Deposit

Over 1 year and in multiple of 3 months.

Interest Rate

Subject to change by the Bank from time to time.

Types of Deposits & Interest Payment

The Deposits can be accepted under the scheme in MIDR / QIDR/FDR/CDR
Accordingly interest to be paid half yearly/ quarterly/monthly/in lump sum on maturity.

Investment Limits

Minimum of Rs. 100/- or in multiple thereof with maximum of Rs. 100,000/- in one year i.e. from 1st April to 31st March.

Tax aspects

Interest on these term deposits shall be liable to tax under the Act,

The tax on such interest shall be deducted in accordance with the provisions of section 194A or section 195 of the Act

Transferability Feature

Can be transferred from one branch to another branch of the bank.

Nomination Facility

Available as per our existing practice in the Bank.

For latest details please contact our nearest branch.

 

MIDS (Monthly Interest Deposit Scheme)

Monthly interest deposit scheme offers the convenience of getting monthly income, just like an added income to normal earnings, making it possible to plan monthly budget.

Eligibility :

The Account can be opened in the name of an individual, minor, joint depositors, firms, corporate, clubs etc.

Amount of Deposit :

Minimum amount of deposit Rs.1000/- and in multiples of Rs.100/- thereafter.

Rate of Interest :

Attractive Rate of interest as decided by Bank from time to time on maturity patterns. The monthly interest is calculated at discounted value.

Period of Deposit :

Period of deposit would range from a minimum period of 12 months to maximum period of 120 months.

Other benefits:

  • Int. would be credited as per instructions of depositor to his SB, CA, RD a/c etc.
  • Loan facility is available Upto 90% of the deposit.
  • Nomination facility is available.

For latest details please contact our nearest branch.

QIDS (Quarterly Interest Deposit Scheme)

Quarterly interest deposit scheme is an ideal scheme to plan tax liabilities or investment depending upon the quarterly interest paid on deposit.

Eligibility :

Any individual, firm, corporate, minor, joint depositors or club etc.

Amount of Deposit :

Minimum amount is Rs.1,000/- and in multiples of Rs.100/- thereafter.

Rate of Interest :

The bank decides attractive rate of interest from time to time on maturity patterns.

Period of Deposit :

Period of deposit varies from 12 months to 120 months.

Nomination :

INomination facility is available.

Other benefits:

  • Loan facility is available Upto 80% of the deposit.
  • Interest will be deposited quarterly as per instructions of the depositor to his SB, CA or any other account.
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