Current Account with cheque book facility is offered by the Bank to its corporate and business clients. Clean and secured overdraft facility is also provided on the Current Account.
FIXED DEPOSIT :-
The Bank offers attractive rates on Fixed Deposits for various maturity periods. Facility for drawing interest on a monthly or quarterly basis is also provided.
This is a cumulative term deposit scheme under which money multiplies faster to a yield targetted amount for the customer as per the deposit period convenient to him.
Under this scheme, the customer can save small amount in monthly instalments for a fixed term to get back a lumpsum. Interest is accumulated on the principal over the saving period at attractive rates of interest.
OTHER SPECIAL DEPOSIT SCHEMES:-The Bank is offering a host of other special deposit schemes to suit the savings needs of its customers like Special Tax Saver Deposit Scheme (7.5%).
All deposits upto Rs. 1.00 lakh per deposit, are covered by Insurance under DICGC scheme with Depositor Insurance & Credit Guarantee Corporation.
Name of Deposit Scheme: Special Deposit Scheme for individuals(only for individuals)
Period of Deposit: 222 days
Rate of Interest: 7.25% p.a (Quarterly compounding)
Term Deposit on Maturity, with minimum amount of deposit: 5000/-
The Scheme will be operation from 01.09.2018 to 30.09.2018
|Existing||Revised (w.e.f. 25.04.2018)|
|S.No.||Period||Rate of int.
|Period||Rate of int.
|1.||7 days to 14 days||6.00||7 days to 14 days||5.00|
|2.||15 days to 30 days||15 days to 30 days|
|3.||31 days to 45 days||6.00||31 days to 45 days||5.60|
|4.||46 days to 90 days||6.50||46 days to 90 days||6.50|
|5.||91 days to 179 days||6.50||91 days to 179 days||6.50|
|6.||180 days to 270 days||6.75||180 days to 270 days||6.75|
|7.||271 days to 364 days||6.95||271 days to 364 days||6.95|
|8.||1 yr exact||7.10||1 year exact||7.10|
|9.||1yr 1 day to less than 2 yrs||7.00||1 year 1 day to less than 2 yrs.||7.00|
|10.||2 yrs to less than 3 yrs||6.60||2 yrs to less than 3 yrs||6.60|
|11.||3yrs to less than 5 yrs||6.60||3 yrs to less than 5 yrs||6.60|
|12.||5 yrs and upto 10 yrs||6.60||5 yrs and upto 10 yrs.||6.60|
The revised rates of interest on term deposits will come into effect from 25.04.2018.
The rate of interest on tax saver deposit scheme will be 6.60% p.a. w.e.f. 25.04.2018.