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- Eligibility: Individual/HUF eligible to open an account with the Bank.
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- Minimum Deposit: Rs.100/ and multiples thereof up to a maximum of Rs. 1 lakh in a year.
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- Tenure: Minimum of 5 years.
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- Rate of Interest: 9% p.a.
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Senior Citizens and Staff will be eligible to get additional
Interest rate as per the rules. |
- Withdrawal Facility: The deposit cannot be closed prematurely before completion of minimum period of FIVE years from the date of deposit.
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- Nomination Facility: Available.
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- Deposit Account may be opened under Single/Joint holder type of Accounts.
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- Payment of Interest:
Option I : Interest may be paid in Lump sum at the time of Maturity.
Option II: Interest may be paid every quarter or every
Month at Discounted value as per rules in force. |
- Term Deposits under this scheme are not eligible for pledge to secure loan or security to any other asset, LD/ODD shall not be available to the depositors on the deposits.
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- Interest Income from these Term deposits shall be liable to Tax under the IT Act.
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- Permanent Account Number (PAN) is compulsory.
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