Rainbow Deposits

KVB's Rainbow FD Scheme was is a perfect blend of all the features of a Savings Bank Account and a Fixed Deposit Account that offers "High liquidity with maximum returns".

• Can be opened in the names of individuals singly / jointly / with either or survivor options
• After retaining a balance of Rs.10000/- in the SB portion of the account, amounts in multiples of Rs.5000/- will be swept out to FD portion for a period of 91 days at EOD every Sunday. .
• In the event of honouring cheques issued in the SB account, sweep in into the SB account will be in units of Rs.1000/- in LIFO method.
• Free Accident Insurance (death) coverage of Rs.1.00 lakhs
• Nomination facility available

• Sweep out to FD portion will be only in multiples of Rs. 5000/- accumulated over the balance of Rs. 10000/- at EOD every Sunday.
• Period of deposit will be 91 days only
• Only simple interest at rates applicable on date of sweep out will be payable.
• Senior Citizens are not eligible for preferential rate of interest