Benefits
of the Fixed Deposits |
|
|
|
Features : |
- Deposit
is accepted above six months and upto
36 months.
- Minimum
amount of deposit is Rs. 1000/- and
thereafter in multiples of Rs. 1000/-.
- Interest
compounded quarterly.
|
| |
Rate of Interest on Deposits |
w.e.f. 01/05/2008 |
| Days / Years |
Rate of Interest |
| |
General |
| 15 Days to 29 Days |
5.00% |
| 30 Days to 90 Days |
6.00% |
| 91 Days to 1 Year |
6.50% |
| Above 1 Year & upto 2 Year |
9.00% |
| Above 2 Year & upto 3 Year |
9.50% |
| |
|
| For Staff/Senior Citizen Additional 1% |
| For Senior Citizen on term Deposits above 1 Year |
| * Interest rates are subject to changes made by the Bank from time to time. |
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| |
| Recurring Deposits |
w.e.f. 01/05/2008 |
| Particulars |
Proposed Int.Rate |
Senior Citizen |
| For 1 Year |
6.50% |
6.50% |
| For 2 Year |
9.00% |
10.00% |
| For 3 Year |
9.50% |
10.50% |
|
| |
| Nutan Tax Saving Deposit Scheme |
| (A) |
For General Public |
8.50% |
| (B) |
For Senior Citizen |
9.50% |
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| |
- Please note that revision of deposits will have effect on fresh deposits and renewal of Maturing deposits.
- Deposit will be accepted for a fixed period of 5 years only.
- No Prematurity encashment / Loan / Overdraft will be allowed.
- Deposit will be accepted in multiple of Rs.1000/- only.
- Maximum Rs.1 Lacs investment is eligible for allowing income tax benefit.
- “UNDER SECTION 80 C” Rubber stamp should be affixed on deposits.
- Interest on deposits is taxable as per Income tax act. TDS on interest amount will be deducted as per Income tax act.
- Deposits will be accepted in name of Individual /s (maximum 2 ind.) and HUF (Pan Card copy of HUF is mandatory) only.
- Interest will be paid or compounded on quarterly basis.
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