Features and Benefits
- Can be opened by Individuals, HUF, Trust, Partnership firms, Companies, Associations etc.,
- Interest is payable at regular intervals (Half / Quarterly / Monthly) as desired by the depositor. But monthly interest is permitted at a discounted rate.
- Nomination facility is available.
- Loan available on deposit.
- Premature closure is allowed, subject to the applicable norms.
Terms and Conditions
- The minimum amount that can be invested is Rs. 100/- and there is no restriction on the maximum amount.
- These deposits are eligible only for simple interest.
- Period of Deposit may vary according to depositor's choice. However minimum and maximum period shall be 15 days and 10 years respectively.
- The interest earned on the deposits will attract the TDS as applicable. If the interest amount is not claimed by the depositor, it will not be eligible for any further interest.
Kindly contact the nearest branch for deposits above Rs. 1 crore.
|Time Bucket||Revised interest (Less than 1 crore) (w.e.f. 07.01.2019)|
|7 Days to 14 Days||5%|
|15 Days to 30 Days||5%|
|31 Days to 45 Days||5.50%|
|46 Days to 90 Days||6%|
|91 Days to 180 Days||6.90%|
|181 Days to 270 Days||6.75%|
|271 Days to less than 1 Year||6.75%|
|1 Year to less than 2 Years||7.25%|
|2 Years to less than 3 Years||7.25%|
|3 Years and above||7%|
|KVB - Tax Shield||7%|
Flexi Term Deposits
|Time Bucket||Revised Rate (w.e.f. 07.01.2019)|
Penal Interest on pre-closure of deposits:
- Up to Rs. 1 crore of deposit – Penalty of 1% from applicable ROI.
- Above Rs. 1 crore of deposit – Pre-closure Penalty norms applicable.
- Interest will be calculated at the rate applicable for the period the deposit has actually remained with the bank. The rates are subject to change without notice.
To check Interest rate: Click here