KVB 555 Special Deposit Scheme

Product KVB 555 Special Deposit Scheme*
Period of Deposit 555 Days
Effect from 10.11.2022
Minimum Deposit amount Rs.1000/-
Maximum Deposit amount Rs. 1,99,99,999/-
Eligibility
  • Individuals
  • Individuals jointly with other Individuals
  • Minors.
  • HUF.
  • Sole Proprietary concerns.
  • Trusts, Associations, Clubs & Societies.
  • Partnership Firms.
  • Joint stock companies.
  • Any other entity not prohibited by RBI.
  • Rate Of Interest General Public & NRIs     -    7.25% p.a.
    Senior Citizens                 -    7.65% p.a.
    Interest Payment Interest pay-out and Cumulative Options available.
    Interest paid on monthly, quarterly and half yearly basis will be simple rate of interest.
    Deposit Loan The depositor can avail loan/overdraft against deposit 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 Nomination facility available.
    TDS TDS will be deducted as per guidelines.
    KYC Documents For New Customers - Photo and valid OVD along with Deposit Application Form
    For Existing customers – Deposit application form.
    Pre-Mature Withdrawal 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.
    *KARUR VYSYA BANK RESERVES THE RIGHT TO CHANGE / ALTER/ WITHDRAW TERMS AND CONDITIONS OF THE SCHEME.
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