Fixed Deposit

 

FIXED DEPOSIT


Fixed deposit accounts are an excellent means to grow your money over a period of time.Interest rates on fixed deposit schemes are generally higher than the interest on savings accounts. If you invest in fixed deposits, you can get higher returns for the same amount of money in a savings account in the same period of time.

Our bank offers several fixed deposit schemes to choose from, depending on your chosen preferred term period (short-term or long-term). This range of choices makes fixed deposits a convenient option for a range of investors, from salaried employees to self-employed professionals to senior citizens.

As low-risk instruments, fixed deposit investments offer both, security and competitive interest rates on your principal amount.

 


Interest Rate on Term Deposits w.e.f. 01-10-2020
Term of Deposit Normal Rate Special rates for Senior Citizen/widows & handicapped*
15 to 29 days 3.00 % 3.50 %
30 to 45 days 3.50 % 4.00 %
46 to 90 days 4.00 % 4.50 %
91 to 180 days 4.25 % 4.75 %
181 to 270 days 4.50 % 5.00 %
271 days to less than 1 year 4.75 % 5.25 %
1 year 5.25 % 5.75 %
Above 1 year to 3 years 5.50 % 6.00 %
Above 3 years 5 years 5.70 % 6.20 %
Above 5 year to 10 years 5.80 % 6.30 %

*Senior citizen: 60 years and Above
*Handicapped with 40 % and above.

**Pension Plan:minimum period 5 years
For more details please visit in our Branch or call us

**Pension Plan(minimum      6.00%                                   6.50%    

period 5 years) S.Interest


How to Open an Account ?


1. Furnish proof of Residence (In the form of a copy of Passport/ Driving License/ Electricity Bill/ Telephone Bill/ Identity Card issued by any reputed institution. ORIGINALS be shown only at the time of scrutiny of papers)/ Business address.

2. Furnish 2 photographs of all the prospective account holder(s).