Deposit

1. Fix Deposit not more than 365 Days

2. Term Deposit More Than 12 Months and Interest paid on Quarterly

3. Term Deposit Cumulative More Than 12 Months and Interest paid on Maturity

     Rules & Regulation for Fix Deposit

  • Term deposit scheme is an attractive scheme to deposit your savings for fix period as per your future requirements.
  • Bank provide attractive Interest Rates to our Customers from time to time.
  • Bank offer 0.50% extra Interest Rate to Senior Citizens (Age 60 or above) on fix deposits of more than 1 year period and above.
  • Guardian can open Minor’s Fix deposit A/c. When minor turns major he can operate account after providing fresh KYC documents.
  • Nomination facility for all deposit accounts is available.
  • Interest is paid on quarterly basis.
  • Loan and Overdraft facility is available against Term deposit.
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  • TDS on Interest income will be deducted as per Income Tax Act.
  • Deposit are insured up to Rs.1 Lacs in DICGC Scheme..
  • In the case of premature withdrawal of deposit, It will observe that what is the period the deposit remained with bank, then the Interest Rate will be compared between present/ Existing rate and the rate at the time of deposit whichever is less will be applicable and 1% penalty will also deduct from interest rate and then the interest calculation will be done on the deposit amount and that interest amount will be payable to the customer.
  • All rights reserved to the Bank’s management to Change the Interest Rate of the Term Deposit Scheme without prior notice and change of Interest rate will be applicable to new deposits and renewal of deposits.
  • The Bank is having rights of appropriation, lien and set off.
  • System automatically  renew Fix Deposit on maturity for same period with present preventing interest  rates.

Documents Require for Fix and Term Deposit

  • Valid Photo I.D. & Address Proof of proprietor / partners /directors
  • (A) Any one of proof for all partners/ directors or proprietor (Photo Id)
  1. Passport,
  2. Driving License,
  3. Voter ID Card,
  4. Aadhar Card
  • (B) Address Proof (Any One)
  1. Electricity Bill (not more than 3 months old)
  2. BSNL Landline Telephone Bill (not more than 3 months old)
  3. Municipal Tax Bill
  • (C) Passport Size Photograph - 2 Copies
  • (D) Pan Card
  • (E) Birth Certificate for minor account
  • (F) Senior Citizens have to produce age proof to avail extra Interest Rate benefit.

Recurring Deposit

  • Recurring Deposit is a monthly Fix Savings Scheme. Customer can Open Recurring A/c with minimum of Rs.100/- per month and in multiply of Rs. 100/-
  • Customers can open Recurring account for 12 month & multiply of 12 Month.
  • Nomination facility is available.
  • Deposits are insured up to Rs.1 Lac under DICGC scheme.

Rules & Regulation for Recurring Deposit

  • Depositor has to fulfill KYC norms as per RBI directive.
  • Guardian can open Minor’s Recurring A/c. When minor turn major after providing KYC documents he/ she can operate the account..
  • Depositor must have to deposit their instalments on every month before due date.
  • If Depositors failed to deposit Installment on regular basis, penalty will be levied.
  • The maturity amount is payable after 30 days of last instalments deposited.
  • If customer want to close the 12 months period deposit account before its mature period then the interest will be applicable as per Savings Interest Rate.
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  • If customer has Savings or Current account with the Bank then by the written authorityto bank, Bank will transfer Recurring Deposit instalments from that account as per standing instruction.
  • The Bank is having rights of lien, appropriation and set off.

Documents Require for Recurring Deposit

  • Valid Photo I.D.
  • (A) Any one of proof for Photo I.D.
  1. Passport,
  2. Driving License,
  3. Voter ID Card,
  4. Government Approved College/university ID Card
  5. Government/Semi government/Department ID. Card
  6. Aadhar Card
  • (B) Address Proof (Any One)
  1. Electricity Bill (not more than 3 months old)
  2. BSNL Landline Telephone Bill (not more than 3 months old)
  3. Municipal Tax Bill
  4. Landline / Gas Bill
  5. Adhar Card
  • (C) Passport Size Photograph - 2 Copies
  • (D) Pan Card
  • (E) Birth Certificate for minor.