Deposits
Fixed Deposit
Fixed deposits are investment instruments offered by banks where you can deposit money for a higher rate of interest than savings accounts.
Given below are the details:
- Deposit for period of 15 days and above.
- Interest normally paid monthly, quarterly, half yearly and yearly.
- Premature withdrawal permitted with applicable penalty.
- Fixed deposits can be closed prematurely with interest upto the date of closing by paying the 1% premature closure charge additionally.
- Interest rate applicable for completed periods.
- Loan upto 90% of the deposit, with interest 2% above the deposit rate.
- Nomination facility available.
| Period |
General |
Senior |
| 15-45 Days |
6.25% |
6.75% |
| 46-90 Days |
6.75% |
7.25% |
| 91-179 Days |
7.25% |
7.75% |
| 180-364 Days |
7.75% |
8.25% |
| 1Year -2 Year below |
8.50% |
9.00% |
| 2 Year and Above |
8.75% |
9.25% |