| Fixed Deposit |
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A Depositor can invest in term deposit, to earn interest on that amount at the prevailing rate on the date of deposit. Payment of interest can be monthly, quarterly or half yearly basis as per requirements. Under this deposit sceme depositor may provide for meeting expenses of monthly, quarterly, half yearly nature. |
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| Ratnakar Tax Saving Term Deposit Scheme 2006 |
| Click here for more info |
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| Amrutkumbha Lakshadish Deposit |
A depositor can invest in small amounts on monthly basis to get a maturity value if Rs. 1 Lakh. The amount of monthly installment would depend on the period within which the depositor desires to have Rs. 1 Lakh. This deposit scheme is useful for palnning of children's higher education / marriage / major anticipated expenses. |
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| Kalpavruksha Nirantar Deposit |
A Depositor can invest a small amount on monthly basis and get the amount with interest on maturity or he can get in monthly installment in proportion of his installment deposited earlier. This is nothing but a pension scheme. It is useful for the salary earners, retailers or businessmen who is earning presently and who wants certain monthly income in future. |
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| Monthly Interest Payable Deposit Scheme |
In order to provide for a regular source of monthly income on attaining a certain age or on retirement. A Depositor may invest a certain amount in Term Deposit Account and avail a fixed monthly income by way of interest at prevailing rate of interest on the date of deposit till the maturity of that deposit account.This deposit scheme is useful for planning for financial independence on retirement from service / business.
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| Cash Certificate |
A depositor can invest small amount to get a larger maturity amount on a fixed date in future. |
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| Reinvestment Deposit |
A Depositor can maximise his interest income under this scheme by getting advantage of compounding of interest. The scheme is suitable when the amount invested and interest thereon is not required upto the date od maturity.
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| Recurring Deposit |
A depositor who cannot save in lumsum may invest small amounts on monthly basis for future requirement for specific period and get a targeted amount on maturity date. |
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| Non-Resident External (Rupee) Account |
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We also accept the deposits from Non Resident Indians in rupee, in savings and term account. |
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| Utility Deposit Schemes |
A Depositor can invest by way of fixed deposit or reinvestment deposit under this scheme. The depositor is sanctioned and credit a limit till the maturity date of deposit. The credit limit is provided through a current account. As and when required depositor can utilised and repaid. Thus short term credit need is available at small interest cost. At the same time interest is earned on the deposit amount.
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| Unit Deposit Schemes |
This deposit scheme is linked with saving deposit. A depositor can invest certain amount having value of Rs.1,000/- each unit.1st time minimum amount is Rs. 10,000/- (10 units), the depositor can use amount invested in units through saving deposit account as and when required as per the rules set by bank. |
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| Current Account |
You can open your Business Profession account. |
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| Additional Interest on Deposits |
Bank gives additional interest on
a) Bulk deposits, above Rs.15 Lakhs and above Rs.100 Lakhs
b) Deposits of senior citizens i.e. person of age of 60 years and above
Note: For interest rate details refer to interest rate chart. |
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| Protection for Bank Depositors |
| Bank Deposits upto Rs. 1,00,000/- in respect of each depositors are fully protected by the Deposit Insurance and Credit Guarantee Corporation. |
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| Rate of Interest Payable on ODFD Account |
Immediately after the date of maturity the amount of the term deposit with interest would be transfered to ODFD account.
| A. |
In case of payment of ODFD account |
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If deposit amount is withdrawn, no interest will be paid (irrespective of period of ODFD) |
| B. |
Renewal of ODFD account |
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1. If the ODFD deposit is renewed within 30 days, the interest rate applicable for the amount being renewed would be the prevailing interest rate on the date of maturity. |
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2. If ODFD is renewed after 30 days from the date of maturity, the interest rate applicable to the overdue period would be prevailing interest for saving deposit + 1 %. |
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3. If ODFD deposit is renewed after 30 days, the rate of interest applicable for the renewal amount would be appropriate rate of interest applicable for the renewal period, on the date of renewals. |
| C. |
Period of Renewal |
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If ODFD deposit is to be renewed as stated in 'B' above, the period for renewal must be for atleast 45 days from the date of renewal. |
| D. |
Partly renewal of ODFD account |
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The amount, which is renewed for the further period, is eligible for the payment of interest as stated in 'B', and the portion which is not renewed will be paid without interest as stated in 'A' above. |
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| No - Frills Deposit Accounts |
| Sr No |
Type of Deposit Account
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Minimum Balance to be maintained |
Charges below minimum balance |
| 1 |
Savings Deposit Account |
0 |
0 |
| 2 |
Savings Deposit Account |
Rs:200/- |
Rs:5/- Per Month |
| 3 |
Current Deposit Account |
Rs:500/- |
Rs:25/- Per Month |
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