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By an individual in his/her own name. By more than one individuals in their joint names with suitable repayment instructions. On behalf of a minor by his/her natural guardian or by a guardian appointed by court.

NRIs / PIOs/OCIs (other than person resident in Nepal and Bhutan) (Individuals from Pakistan require prior approval of RBI).

Minimum period

1 Year

Maximum Period

120 Months

Minimum Deposit Amount

Rs. 1000/-

Maximum Deposit

No Limit

Rate of Interest

As per interest rate circular depending on the tenor

Interest payment frequency

Interest will be calculated, compounded on quarterly rests and credited to the deposit account on half yearly interval. Interest accrued on the deposit will be paid along with principal at the time of maturity.


No TDS .

Loan Facility


Nomination Facility

Available as per guidelines

Automatic renewal

Deposit will be auto renewed for the same period at the applicable rate of interest on maturity in the absence of specific instruction.

Premature Closure

Allowed. Interest will be paid for the run period at applicable rate and penalty if any

Penalty on Premature Closure

Applicable as per guideline