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Features:
- Individual (singly or jointly) with others.
- Minor who have attained the age of 10 years and above in his/her own name on giving proof of age.
- Minors below the age of 10 years under guardianship of Natural/legal guardian.
- Proprietorship/Partnership Firm, Commercial Organization, Company / Corporate Body
- Hindu Undivided Family
- Association, Club, Society, Trust or Religious/Charitable Educational Institutions,
- Municipality or Panchayat, Government or Quasi-Government body.
- Illiterate and blind persons can also open accounts.
- Rs. 100/- in multiples thereof with a capping on maximum amount.
Terms & Conditions:
- Period of RD – 6 months to 120 months in multiple of 1 months
- Payment of RD will be due on maturity or one month after deposit of last installment, whichever is later. Irregular/Discontinued RD Account
- Non-deposit of pending installments till maturity date, interest will be paid on daily products basis compounded half yearly.
- Depositing of pending installments before the maturity date, penalty will be charged @ Rs.1.00 for Rs.100/- p.m.
- Loan/ Overdraft against deposit is available. For detail, please refer to loan against term Deposit
- Rate of interest would be Card rate as applicable to the tenor of deposit as displayed on website, subject to change from time to time.
- Nomination facility is available.
- TDS is applicable as per rules. The Bank will issue TDS Certificate for the tax deducted.
