FEATURES
· Period of deposit from 7 days to 10 years.
· Deposit Amount: Minimum: Rs.1000/-, Maximum: No limit
· Payment of interest at Monthly/Quarterly/Calendar quarter basis as per your requirement.
· Payment of interest on monthly interval will be at discounted rate.
· Interest will be paid at the contracted rate irrespective of change in the rate thereafter.
· Senior Citizens get 0.25% extra interest rate
· Loans / OD upto 90% of the Principal deposit
· Premature payment:
o The penalty for premature withdrawal of deposits below Rs 15 lacs for all tenors will be 0.50% p.a. provided these have remained with the Bank for at least 7 days.
o However, for single deposit of Rs 15 lacs and above, there shall be no penalty for premature withdrawal for tenors below 1 year provided these have remained with the bank for at least 7 days.
o In all other cases above one year, in case of premature withdrawal, the interest shall be 0.50% below the rate applicable for the period the deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower. However, no interest will be paid if the deposit remains with the bank for less than 7 days period.
· Auto renewal is exercised if maturity instructions are not given
· Flexibility to convert TDR to STDR and vice versa
· Nomination facility available and recommended
· TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.
· TDS will be deducted when interest paid or accrued or reinvested per customer, per branch, exceeds Rs. 10,000 in a financial year.
· The TDR can be linked to any Savings Bank or Current Account from where you can withdraw periodical interest. TDS payments, if any, can be made to the Government as and when it is due from linked account.
Most Important Terms & Conditions
1. Interest will be paid at the contracted rate irrespective of change in the rate thereafter.
2. Period of deposit 07 days to 10 years.
3. Loan / overdraft up to 90% of the deposit amount at 0.50% above the TDR rate.
4. The penalty for premature withdrawal of deposits below Rs 15 lacs for all tenors will be 0.50% p.a. provided these have remained with the Bank for at least 7 days. However, for single deposit of Rs 15 lacs and above, there shall be no penalty for premature withdrawal for tenors below 1 year provided these have remained with the bank for at least 7 days.
In all other cases above one year, in case of premature withdrawal, the interest shall be 0.50% below the rate applicable for the period the deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower. However, no interest will be paid if the deposit remains with the bank for less than 7 days period.
5. Interest can be paid on monthly intervals on discounted rate.
6. Interest can also be paid at Calendar quarter basis.
7. TDS at prevalent Income tax rate is deducted if Form 15G/15H not submitted.
8. Auto renewal is exercised if maturity instructions are not given.
· Period of deposit from 7 days to 10 years.
· Deposit Amount: Minimum: Rs.1000/-, Maximum: No limit
· Payment of interest at Monthly/Quarterly/Calendar quarter basis as per your requirement.
· Payment of interest on monthly interval will be at discounted rate.
· Interest will be paid at the contracted rate irrespective of change in the rate thereafter.
· Senior Citizens get 0.25% extra interest rate
· Loans / OD upto 90% of the Principal deposit
· Premature payment:
o The penalty for premature withdrawal of deposits below Rs 15 lacs for all tenors will be 0.50% p.a. provided these have remained with the Bank for at least 7 days.
o However, for single deposit of Rs 15 lacs and above, there shall be no penalty for premature withdrawal for tenors below 1 year provided these have remained with the bank for at least 7 days.
o In all other cases above one year, in case of premature withdrawal, the interest shall be 0.50% below the rate applicable for the period the deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower. However, no interest will be paid if the deposit remains with the bank for less than 7 days period.
· Auto renewal is exercised if maturity instructions are not given
· Flexibility to convert TDR to STDR and vice versa
· Nomination facility available and recommended
· TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.
· TDS will be deducted when interest paid or accrued or reinvested per customer, per branch, exceeds Rs. 10,000 in a financial year.
· The TDR can be linked to any Savings Bank or Current Account from where you can withdraw periodical interest. TDS payments, if any, can be made to the Government as and when it is due from linked account.
Most Important Terms & Conditions
1. Interest will be paid at the contracted rate irrespective of change in the rate thereafter.
2. Period of deposit 07 days to 10 years.
3. Loan / overdraft up to 90% of the deposit amount at 0.50% above the TDR rate.
4. The penalty for premature withdrawal of deposits below Rs 15 lacs for all tenors will be 0.50% p.a. provided these have remained with the Bank for at least 7 days. However, for single deposit of Rs 15 lacs and above, there shall be no penalty for premature withdrawal for tenors below 1 year provided these have remained with the bank for at least 7 days.
In all other cases above one year, in case of premature withdrawal, the interest shall be 0.50% below the rate applicable for the period the deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower. However, no interest will be paid if the deposit remains with the bank for less than 7 days period.
5. Interest can be paid on monthly intervals on discounted rate.
6. Interest can also be paid at Calendar quarter basis.
7. TDS at prevalent Income tax rate is deducted if Form 15G/15H not submitted.
8. Auto renewal is exercised if maturity instructions are not given.
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