KVB 555 Special Deposit Scheme
|Product||KVB 555 Special Deposit Scheme*|
|Period of Deposit||555 Days|
|Minimum Deposit amount||Rs.1000/-|
|Maximum Deposit amount||Rs. 1,99,99,999/-|
|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.|