Deposits

Short Term Deposit with minimum of 15 days. Automatic renewal is allowed with Interest Or Deposit is renewed only with Principal Amount for even period by allowing Interest in favour of depositor on due date as per mandate.

Deposits are accepted for short term repayable on due date along with Simple Interest.

Interest allowed to depositors every month as per the mandate of depositor at discounted rate as per RBI guidelines.

Interest paid on Deposit at the end of every calendar quarter. However if deposit is made in between the quarter, interest for a broken period till the end of first calendar quarter is paid for the first time and subsequently interest is paid at the end of every quarter.

Simple Interest paid on deposit at the interval of half year / yearly as the case may be.

Interest on deposits is compounded quarterly and payable on maturity of the deposit.

A specified amount as agreed by the depositor is required to be deposited in the account for a given term.

• Permanent Account Number Mandatory for Fixed Deposit of Rs. 50,000/- and above.
• Interest paid on Fixed Deposit attracts Tax (TDS) if amount of interest exceeds Rs. 40,000/-.
• Depositors are required to comply with the requirement of KYC Norms.
• Premature withdrawals are allowed with penal Interest @ 1%.
• Renewals of Deposits are allowed before the due date with out charging of Penal Interest.
• Loan against Deposits are allowed during the term of deposit with the Interest rate 2% above Interest rate of Deposit.
• Senior Citizens are allowed extra Interest @ 0.50% on Fixed Deposits for a term above one year.

Period/Type	Rate of Int.
15 Days to 90 Days	3.00%
91 Days to 180 Days	4.50%
181 Days to 9 Months	5.25%
Above 9 months upto 12 Months	5.75%
Above 12 months upto 24 Months	6.80%
Above 24 Months upto 36 Months	7.00%
Above 3 Years	6.50%
Senior Citizen (Deposit for a period of one year and above)	0.50% (EXTRA)

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Period/Type	Rate of Int.
For 1 Year	5.75%
For 2 Years	6.80%
For 3 Years	7.00%