Scheme Code

All Schemes Codes applicable for domestic term deposits Except Monthly Income Schemes (MIS)

Period

• 333 Days

Minimum Deposit Amount

• Rs 1000/-

Maximum Deposit

• Below Rs 3.00 Crores

Rate of Interest

• 7.40% (General Customer)
• 7.90% (Sr Citizens)
• 8.15% (Super Sr Citizens)

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.

TDS

• TDS will be deducted as per guidelines.

Loan Facility

• Available

Nomination Facility

• Available as per guidelines

Premature Closure

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

Penalty on Premature Closure

• In case of Pre-closure of retail term deposits (less than Rs. 3.00 crores), which have run for 7 days or above, interest to be paid at 1.00% less than the applicable rate (as on the date of opening of deposit) for the period for which it has actually remained with the Bank or contracted rate, whichever is lower.