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PARAMETERS
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FEATURES*
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Eligibility
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Individual(s), sole proprietorship concern, partnership firm, association, trust, Ltd. Company etc.
Anupam Account shall not be opened in the name of minor, illiterate and blind persons.
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Deposit Amount
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Minimum Rs.10, 000/- and in multiples of Rs.1000/- thereof with Maximum amount of Rs.1, 99, 99,000/-.
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Period of Deposit
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For any period from 6 months to 120 months.
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Interest
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Card Rate as per guidelines issued by HO: IRMD, (ALM Cell) from time to time.
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Demand Loan/Overdraft facility
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For allowing overdraft facility, a request letter as will be obtained along with AOF for allowing overdraft facility under PNB Anupam Term Deposit Scheme from the customer.
Overdraft facility shall be permitted through a Current Account and a Cheque Book will be issued to the depositor on the same day. However, the actual drawings from the overdraft account will be allowed from the account on the subsequent day. Branch Manager may permit DP against the interest accrued on deposit also. The Drawing Power (D.P.) is to be entered through SRM which has to be done procedurally in the branches.
The adherence of margin, exercise of loaning powers and rate of interest on the amount of overdraft against the deposit shall be governed by L&A Circulars, issued from time to time by HO: IRMD. The formal sanction need not be obtained separately. The attestation of AOF done by the Manager/Incumbent Incharge may be deemed sanction of overdraft limit.
Hence, such OD facilities need not be reported/ entered in limit sanctioned statement (LSS) and documents register.
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Third Party Advance
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No third party advance is allowed under Anupam Account. Even the overdraft facility to a proprietorship firm against Term Deposit in the name of its proprietor shall not be allowed. The title of Term Deposit and Overdraft Account should be the same. This is to be handled procedurally in the branches.
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Facility of further Term Deposits in the same Anupam Account
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More Term Deposits can be accepted in the same Anupam Account on obtaining letter of request and the limit in the overdraft account will be increased accordingly against the additional deposit and it will also be endorsed in the Receipt Form with the customer.
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Renewal of Term Deposit on Maturity
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The guidelines in respect of renewal of Term Deposit must be adhered in terms of Loans & Advances Circulars issued by HO: IRMD, in this regard from time to time.
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Maturity proceeds/overdue deposits
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At the time of payment of deposit the proceeds should invariably be credited to OD account and should also ensure reduction/cancellation of limit allowed/closure of linked OD account and return of unused cheque leaves at the time of final closure of Anupam Account by the depositor.
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Period of Payment of Interest
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On completed quarter basis to be credited in the month of March/June/September/ December every year.
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