Special Recurring Deposits

Interest Rates on special recurring Deposits 

Period

 Revised Interest Rate Revised Interest Rates (Senior Citizen)

12 Months to less than 36 Months

 6.80% 7.30%
24 months to less than 36 months 7.00% 7.00%

36 months to less than 60 months

 6.50% 7.50%

Term & Conditions

  1. Citizen who attains the age of 60 years and above shall be treated as Senior Citizen.

  2. Ensure the AGE PROOF for those availing facility of higher interest in Senior Citizen category.

  3. No joint account in the case of Senior Citizens except husband & Wife.

  4. Extra interest of 1 % shall be paid to staff & additional rate of Senior Citizen shall be paid extra to staff eligible for senior citizen benefit.

  5. On Loan against Bank’s own Deposit as under :

    1. If loan raised by the depositors himself/herself 1 % extra interest  shall be applicable.

    2. If loan raised by a person on third party deposit 2 % extra interest  shall be applicable.