| Who Can Open the Account |
- Individuals
- Two or More individuals in their joint names
- Minors represented by the natural guardians
- Proprietary concerns/ partnership firms/companies
- Associations or anybody corporate
- Hindu Undivided Families
- Trusts
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| Rate of Interest |
The rates of interest on deposits are as fixed by the Bank from time to time. |
| Benefits and Features |
- Deposits accepted for periods ranging from 30 days to 120 months.
- A term deposit is an Interest Payout savings scheme which offers interest at yearly, half yearly, quarterly and monthly basis.
- TDS applicable Form 15H/15G required to be submitted for exemption of TDS.
- Nominal member of the bank will also be exempted from TDS. If you are exempt from paying tax, you need to present Form 15H when you open a Fixed Deposit and subsequently at the beginning of the following financial year.
- A minimum amount of Rs. 1000/- and further rise in multiples of Rs. 100/- is required to open Term Deposits Account.
- Premature withdrawal of deposit is permitted any time subject to payment of prescribed penalty.
- Loans available upto a maximum of 85% of the deposit amount depending on the length of the unexpired period of the deposit.
- Senior Citizens & Staff will be eligible for additional Rate of interest as per applicable norms.
- Nomination facility available.
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| Amrutkumbh Deposit |
The Amrutkumbh Deposit scheme is a cumulative interest scheme, this means that interest earned at the end of every quarter is invested along with the principal helping you make the most of your money.
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