Deposits

An amount of money held at a financial institution on behalf of an account holder for safekeeping. For example, one may keep a deposit in one’s checking account to pay for daily expenses instead of hiding one’s money
“under the mattress.

Our deposits scheme:

I.Saving Deposit

Features :

• Cheque book with account holder’s name.
• No restriction on withdrawal.
• Interest is payable quarterly.
• Statement of account will be furnished on demand basis.
• Nomination facility is available

Saving account can be opened with

1. Normal Saving Account
2. Special Saving Account
3. Capital Saving Account
4.Premium Saving Account
6. Super Saving Account

* Note:Tax is deducted at source from the interest on saving deposit as per the Income Tax Act

Eligibility:

• Individuals only.

Documents:

The copy of the following certified documents has to be submitted while requesting for opening of Account.
• Citizenship Copy
• 4 pp size photos

Types of Saving Accounts:

1.Normal Saving Account

• Open Account with Minimum Balance of Rs.500.
• Interest Rate @6.00% p.a. on Daily Balance.
• Accrued interest posted to account on quarter end.
• SMS Banking Facility.

2.Special Saving Account

• Minimum Balance required to open account Rs. 5,000/-
• Interest Rate @6.25% p.a.
• Interest Accrued in Daily Balance.
• Accrued interest posted to account on quarter end.
• SMS Banking Facility.

3.Capital Saving Account

• Minimum Balance required to open account Rs. 10,000/-
• Interest Rate @6.50% on Daily Balance.
• Accrued interest posted to account on quarter end.
• SMS Banking Facility.

4.Premium Saving Account

• Minimum Balance required to open account Rs. 50,000/-
• Interest Rate @6.75% p.a. on Daily Balance.
• Accrued interest posted to account on quarter end..
• SMS Banking Facility.

5.Super Saving Account

• Minimum Balance required to open account Rs. 1,00,000/-
• Interest Rate @7.00% p.a. on Daily Balance.
• Accrued interest posted to account on quarter end..
• SMS Banking Facility.

Periodic Deposit (PD)

Features:

• Periodic Deposit can be opened with a minimum balance of NRs. 10,000.00.
• Interest is payable Quarterly.
• Time Period begins from three month.
• Nomination facility is available.
• Interest can be received in Quarterly, Yearly and At Maturity as per depositor’s demand.
• Loan upto 90% of fixed deposit.