Here money is locked up for some period of time in return for with interest.
Features of Term Deposit
Term deposits are an extremely safe investment and are therefore very appealing to conservative, low-risk investors.
- Depositing amount for fixed peroid
- Period of deposit is minimum 1 Month to 36 Months
- Repayment with interest on maturity date
- Loan can be granted on the accumulated deposit amount
Information
A Fixed Deposit is a financial instrument provided by Society which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account.
Interest rate prevailing for the Deposit period / scheme
25 To 36 Months @10.5%
Documents Required
| Documents | Requirements |
| Documents required for NEW customers | 2 Photographs (Passport size) |
| Xerox copies of the following. Bring originals for verification | PAN – Permanent Account No. allotted by Income Tax Authority |
| Residential Proof ( Any one or more ) | Ration Card Passport Electricity Bill |
| Photo Identification Proof | Passport Election Identity Card Office Identity Card Driving License |
Terms Deposit
| Period | Interest Rate |
| 30 Days to 45 Days | 6.5% |
| 46 Days to 90 Days | 7.5% |
| 120 Days to 180 Days | 8.5% |
| 210 Days to 365 Days | 9.5% |
| 13 Months to 2 Year | 10% |
| 25 Months to 3 Year | 10.5% |