A Savings Account can be opened by individuals/Minors/HUFs
- Minimum Deposit of Rs.1000/- (With cheque book facility)
- We provide a nomination facility.
- Customer can open Savings A/c for his/her minor children.
- Computerized passbook to every Account holders.
Current account can be opened by the Proprietory Firms/HUF/Personal/Individual/Partnership Firms/Public or Pvt. Ltd. Company/Co.Op. Society/Club/Trust/Institution/Association etc.
- Minimum Deposit of Rs.3000/-(With cheque book facility).
- We provide nomination facility for all individual accounts and proprietary concern accounts.
- We are member of DICGC in which customers deposits are insured up to Rs. 5 Lakh.
KYC not required, if already having Saving Account with the Bank.
- Recurring Deposit
- Fixed Deposit
- Cash Certificate
A fixed deposit account may be opened by any Personal/Individual/Minor/HUF/Firm/Company/Club/Trust/Society/Association etc.
Loan and Overdraft facility is available against Fix deposit receipt to pass 80%.
Recurring Deposit account may be opened by any person, individual, a minor, senior citizen.
- Interest is compounded on quarterly basis and payment thereof is made on date of maturity.
- Loan facility against the Deposit available as per exixting RBI guidelines
Rate of Interest on Saving Deposit/Term Deposits with effect from 16th December,2023
| Sl. | Period | Existing Rate | Revised Rate | ||
| General | Sr. Citizen | General | Sr. Citizen | ||
| (A) | Saving Deposit | 2.70% | 2.70% | 2.70% | 2.70% |
| (B) | Term Deposit | Existing Rate | Revised Rate | ||
| 1 | 15 days to 29 days | 3.00% | 3.50% | 3.00% | 3.50% |
| 2 | 30 days to 45 days | 3.00% | 3.50% | 3.00% | 3.50% |
| 3 | 46 days to 90 days | 4.50% | 5.00% | 4.50% | 5.00% |
| 4 | 91 days to 179 days | 4.50% | 5.00% | 4.50% | 5.00% |
| 5 | 180 days to 210 days | 5.25% | 5.75% | 5.25% | 5.75% |
| 6 | 211 days to less than 1 year | 5.75% | 6.25% | 5.75% | 6.25% |
| 7 | 1 year to less than 2 years | 6.75% | 7.25% | 6.80% | 7.30% |
| 8 | 2 years to less than 3 years | 6.75% | 7.25% | 7.00% | 7.50% |
| 9 | 3 years to less than 5 years | 6.25% | 6.75% | 6.50% | 7.00% |
| 10 | 5 years to less than 8 years | 6.25% | 6.75% | 6.50% | 7.50% |
| 11 | 8 years or above | 6.25% | 6.75% | 6.50% | 7.50% |
Note:
- No interest will be paid, if en cashed within 14 days from the date of deposit.
- Premature encashment of term deposit will be charged a penal interest of 1% for the period of deposit maintained with the Bank with effect from the date of opening of the account. There will be penal interest for the premature encashment by the nominee or legal heir(s) of a deceased depositor.
- The revised rate shall only to fresh deposits and renewal of existing deposit on maturity. These rates are subject to revision from time to time.
TDS on Interest income will be deducted as per Income Tax Act.