Brief features of the product:
|
PARAMETERS |
FEATURES* |
|
Eligibility |
Individual (singly or jointly) with others
Minor who have attained the age of 10 years and above in his own name on giving proof of age
Proprietorship/Partnership Firm, Commercial Organization, Company /Corporate Body
Hindu Undivided Family
Association, Club, Society, Trust or Religious/Charitable or Educational Institutions
Municipality or Panchayat, Government or Quasi-Government Body
Illiterate and blind persons can also open the account. |
|
Deposit Amount |
Minimum deposit of Rs.1000/- and in multiples of Rs. 1000/-, up-to Rs. 1,99, 99,000/- |
|
Period of Deposit |
From 1 year to 10 years, even for incomplete quarters. |
|
Interest |
• Card Rate as per guidelines issued by HO: IRMD, ALM Cell from time to time.
• Interest shall be payable monthly (at discounted rate), quarterly (at simple rate) and yearly interval (quarterly compounding). |
|
Demand Loan/Overdraft facility |
• Deposits for Rs.10, 000/- and above on written request shall be eligible for Demand Loan /overdraft facility.
•Terms & Conditions issued by HO: Integrated Risk Management Division L&A Circulars, from time to time shall be applicable. |
* Other terms and conditions as per general guidelines