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Image   DEPOSIT RE-INVESTMENT CERTIFICATE

Features

ELIGIBILITY
Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Visually Impaired persons, Purdanasheen Ladies, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a "DRIC Account" in single/joint name/s.
SALIENT FEATURES
  • This is an ideal scheme for investing a lump sum amount where interest is compounded quarterly and paid along with the principal amount invested.
  • Deposits can be accepted for any period from 6 months to 120 months.
  • Minimum amount of deposit will be Rs.100/- in Rural/Semi-urban centers and Rs.500/- in Urban/Metro centers.
  • Interest at applicable rate for the period for which the deposit is kept, is automatically reinvested at quarterly intervals.
  • As the Interest is compounded, the amount invested multiplies and matures into an attractive lump sum, thus doubling over a period of time. (Please check with the nearest branch for the latest table available on maturity values).
Provision for nomination.:- Nomination facilities are available
Senior Citizen are offered additional interest of 0.50% for term deposits placed for 1 year & above period on term deposits of less than 1 crores. For rate of interest of term deposits for Rs.1 crores and above, please contact the nearest branch of our Bank.
For Useful Information please click the links below  :

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