Deposits

F.D.R. Deposits / MIP Deposits

• Main features of the Scheme are :
  Type of Deposit         : Short term as well as long term.
  Term of Deposit          : 1 month to 10 years.
  Interest Rate          : As per table.
  Minimum Deposit amount          : Rs.500/-.
  Renewal : After maturity on producing deposit receipts.
  Withdrawal Facility : Withdrawal on maturity / pre-mature withdrawal facility is available as per rules.
  Loan facility : 85 % value of Deposits.
  Interest payment : Interest is credited to SB/CD a/c of depositor after every monthly/quarter/half year/year upto maturity as per interest payment scheme chosen by depositor at the time of deposit/renewal.
  
• Other factors are:
  i) Nomination is available for all type of depositor and is compulsary for deposit in single name.
  ii) Interest rates are contracted at the time of deposit/renewal and are fixed Troughout the life of deposit.
• iii) As on date effect will be given on the renewal of deposit only if deposit receipt is produce within 14 days from the date of Maturity and -------- less than or equal to maturity value of deposit.
• iv) Depositor has choice to repay the loan against said deposit on regular basis/on lumpsum or Bank may close the said loan from the maturity proceeds. Loan interest will be recovered from deposit interest as and when it will be paid.

Double Benefit Deposit Scheme

• Main features of the scheme are
• Type of deposits :- Short Term as well as Long Term
  Deposit. Term of deposit :- 3 months to 10 years.
  Interest rates :- As per table.
  Minimum deposit amount :- Rs.500/-
  Renewal :- After maturity on producing deposit receipt.
  Withdrawal facility :- Withdrawal on maturity/premature withdrawal facility is available as per rules.
  Loan facility :- Available - 85% of accumulated value of deposit.
  Interest Payment :- Interest is accumulated on quarterly basis and paid/ renewed at the maturity/premature withdrawal as the case may be.
  
  Other factors :-
  i. Nomination is available for all type of depositor & is compulsory for deposit in single name.
  ii. Interest rates are contracted at the time of deposit/renewal and are fixed throughout the life of deposit.
  iii. As on date effect will be given on the renewal of deposit only if deposit receipt is produced within 14 days from the date of maturity and amount less than or equal to maturity value of deposit.
  iv. Depositor has choice to repay the loan against said deposit on regular basis/on lumpsum or Bank may lose the said loan from maturity proceeds.

Recurring Deposit

• Main Features of the Scheme are -
  Type of Deposit : Shot Term as well as Long Term Deposit
  Term of Deposit : 1 year to 10 years
  Interest Rate : As per table.
  Minimum Deposit Amount : Rs.5/- & in multiple thereof.
  Withdrawal Facility : Withdrawal on matureity premature withdrawal facility is available as per rule.
  Loan Facility : 85% of accumulated deposits.
  Interest payment : Interest is accumulated on Quarterly basis and paid/renewal at the maturity/premature withdrawal as the case may be.
  
  Other Factors :
  i) Nomination is available for all type of depositors and is compulsary for deposit in single name.
  ii) Interest rates are contracted at the time of deposit/renewal and are fixed throughout the life of deposit.
  iii) Depositor has to deposit fixed amount of instalment at every month upto maturity and will get lumpsum amount with interest on maturity.
  iv) Any late payment of monthly instalment will attract penalty of 1.5% per instalment per month.
  v) Depositor has choice to repay the loan against said deposit on regular basis/on lumpsum or Bank may close the said loan from the maturity proceeds.

Be a Lakhpati Scheme

• Main features of the scheme are
• Invest Rs.7,275/- p.m. for 13 months or Rs. 5,150/- p.m. for 18 months & Get Rs.1,00,000/- (For All Customers)
• Invest Rs.7,250/- p.m. for 13 months or Rs. 5,125/- p.m. for 18 months & Get Rs.1,00,000/- (For Senior Citizens)

Sulabh Amrut Deposits

• Main features of the scheme are
  Type of Deposit : Shot Term Deposit
  Term of Deposit : 15 days, 30 days
  Interest Rate : 4.5% p.a.
  Minimum Deposit Amount : Rs.1000/- & in multiple of Rs.1000/-
  Renewal : Auto renewal after 15 days, 30 days.Depositors need not visit the Bank to renew their deposits.
  Withdrawal Facility : Depositor can withdraw Rs.1000/- or in multiple thereof once in a week.
  Loan Facility : Facility not available.
  Interest payment : After every 15 days, 30 days interest will be credited to depositors SB or CD Account.


• Other Factors :
  i) Scheme is for 2 terms i.e. 15 days & 30 days. At the time of deposit in the account depositer is required to select the terms which depositor can change at any renewal.
  ii) Depositor will be paid interest only when selected term is completed. Interest rate will be contracted at the time of deposit/renewal and will remain unchanged till maturity .