|KVB 333 Special Deposit Scheme*
|Period of Deposit
|Minimum Deposit amount
|Maximum Deposit amount
|Who can invest?
|Rate Of Interest (proposed)
| Domestic / NRO deposits - 7.40%
Senior Citizens - 7.80%
(NRE deposits are not permitted for less than 1 year tenure as per extant RBI guidelines & hence this scheme is not available for placing NRE deposits)
|Interest pay-out and Cumulative Options available.
Interest paid on monthly, quarterly and half yearly basis will be simple rate of interest.
|Type of Interest Rate
(Fixed / Floating)
|Interest Calculation method
|Actual / Actual Basis
|The depositor can avail deposit loan as per the norms applicable to Regular Term Deposits.
|Auto Renewal option
|Available. The deposit will be auto-renewed for the same period at the Rate of Interest prevailing on the date of maturity, in the absence of instructions.
|Nomination facility available.
|TDS will be deducted as per guidelines.
|For New Customers - Photo and valid OVD along with Deposit Application Form
For Existing customers – Deposit application form.
|Force Renew Tenor
|If Lien is marked, systems will Force Renew for further period of 1Year.
|Allowed. Interest will be paid for the run period at applicable rate and penalty if any.
|Penalty on Pre-closure
|1% Pre closure penalty will apply, that is, interest will be paid at 1.00% less than the applicable rate (as on the date of opening of deposit) for the period for which the deposit has actually remained with the Bank.
|Terms and Conditions
|Other terms and conditions are as applicable to the Regular Term Deposits.