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 | |
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. |