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Home - Products - Term Deposit

Term Deposit

Term Deposit scheme to suit your requirement and future plan. You can not only earn higher income on your surplus funds by investing in any of our term deposit schemes, but also avail loan against those funds. Thus fulfill your need, multiply your funds as well as keep your savings secure.

 
Short Term Deposit (SDR)
  Easy liquidity still earn interest.
 
Quarterly Interest Re-Investment Plan (QIRP)
  Gain more by earning interest on interest.
 
Fixed Deposit (FDR)
  Invest and earn interest quarterly or half yearly.
 
Automatic Renewal Certificate (ARC)
  Automatic renewal of principal no need to visit for renewal process.
 
Recurring Deposit (RD)
  Regular savings leads to high investment.
 
Flexi Quarterly Interest Re-Investment Plan
  Break Investment without loss of interest.
 
Monthly Income Plan (MIP)
  Earn Monthly interest on your investment.
 
Automatic Renewal Certificate with Interest
  No renewal hassle guarantees automatic renewal with interest.
 
Annapurna Tax Benefit Deposit Scheme
  Save tax and maximize interest on your investment.
 
Non-Resident(External) NRE Deposit Account
  Term Deposit account for NRE to maintain foreign currency earnings in Indian rupees
 
Interest Rates on deposits (revised w.e.f. 4 th July 2014)
Period General Public / Trusts /
Society / Corporates
Senior Citizen
QIRP FDR / MIP / RD / SDR QIRP FDR / MIP / RD / SDR
15 days - 90 days N.A 5.00 N.A 5.50
91 days - 180 days N.A 7.00 N.A 7.50
181 days - 1 year N.A 7.75 N.A 8.25
400 days
(Excl. RD & SDR) 
- 9.75 - 9.75
13 months(QIRP) 9.75 - 9.75 -
Above 1 year - upto 2 years 8.25 8.25 8.75 8.75
Above 2 years - upto 3 years 9.00 9.00 9.50 9.50
Above 3 years - upto 4 years 9.00 9.25 9.25 9.75
Above 4 years - upto 7 years 7.75 8.25 8.25 8.75
Above 7 years - upto 10 years 6.50 7.00 7.00 7.50
Interest Rates for ATBS Product (revised w.e.f. 04 th July 2014)
Scheme FDR QIRP
For all category (Individual/HUF/Senior Citizen) Without Saving A/c Existing/New Saving A/C Without Saving A/c Existing/New Saving A/C
Annapurna Tax Benefit Scheme (ATBS) 9.25 9.30 8.25 8.30
Deposit Tenure of 5 years with no premature payment as per the provisions of IT act for ATBS product.

* Terms & Conditions Apply

Eligible to operate a Term Deposit Account
  Individual - Single / Joint account
Minor - Operated by guardian natural / appointed by court
Trust - Private / Public
Partnership firm
Limited company – Private / Public
Club, Association &  Society
 
To open Term Deposit Account, you just need to provide:
  Duly completed account opening form
Pan card /FORM 60- if, no Pan card
Proof of Residence of the applicant(s)
Proof of  Photo Identification of the applicant(s)
Proof of Age in case of senior citizen
One recent passport size color photographs  of  Partner(s) / Director(s)

Introduction by an existing customer, whose account is at least 6 months old OR
Introduction letter of your existing bank verifying signature

Submit Partnership deed with Registration receipt in case of Partnership firm
Submit Memorandum of Association, Article of Association, Resolution in case of  Company
Board Resolution / Resolution in case of a company, an association
 
Short Term Deposit (SDR)
Easy liquidity still earn interest.

Salient features of the scheme:

  • Minimum opening balance Rs.1000/-
  • Minimum period 15 days, maximum up to 364 days
  • Interest paid along with principal on maturity>
  • Can avail loan up to 90 % of accumulated deposit
  • Interest as per card rates
Apply Now
Quarterly Interest Re?Investment Plan (QIRP)
Gain more by earning interest on interest.

Salient features of the scheme:

  • Minimum opening balance Rs. 1,000/-
  • Minimum period 1 year in multiple of 3 months, maximum up to 5 years
  • Interest automatically ploughed back on quarterly compounding basis
  • Can avail loan up to 90% o of accumulated deposit
  • Interest as per card rates
Apply Now
Fixed Deposit (FDR)
Invest and earn interest quarterly or half yearly.

Salient features of the scheme:

  • Minimum opening balance Rs.1000/-
  • Minimum period 1 year, maximum up to 5 years
  • Interest due will be paid on quarterly basis, notify instruction while opening the account
  • Can avail loan up to 90% of principle amount
  • Interest as per card rates
Apply Now
Automatic Renewal Certificate (ARC)
Automatic renewal of principal no need to visit for renewal process.

Salient features of the scheme:

  • Minimum opening balance Rs.5000/-
  • Minimum period 1 month
  • Interest paid periodically as per the instruction of the depositor
  • Deposit receipt renewed without interest automatically on due date for six times
  • Can avail loan up to 90% of accumulated deposit
  • Can change deposit scheme any date in future, noting it on or before due date
  • Interest as per card rates
Apply Now
Recurring Deposit (RD)
Regular savings leads to high investment.

Salient features of the scheme:

  • Minimum opening balance Rs.100/- or in multiple of Rs.100/- per month
  • Minimum period 1 year, maximum up to 5 years
  • Interest paid along with principal on maturity
  • Can avail loan up to 90% of accumulated deposit
  • Interest as per card rates
Apply Now
Flexi Quarterly Interest Re-Investment Plan
Break Investment without loss of interest.

Salient features of the scheme:

  • Open an account in units of Rs.1000/- each
  • Minimum period 1 year, maximum up to 5 years
  • Part amount can be withdrawn conveniently in units without loss of interest
  • Remaining units continue earning same interest till maturity
  • Can avail loan up to 90% of accumulated deposit
  • Interest as per card rates
Apply Now
Monthly Income Plan (MIP)
Earn Monthly interest on your investment.

Salient features of the scheme:

  • Minimum opening balance Rs.1000/-
  • Minimum period 1 year, maximum up to 5 years
  • Interest due can be paid on monthly basis
  • Can avail loan up to 90 % of principle amount
  • Interest as per card rates
Apply Now
Automatic Renewal Certificate with Interest
No renewal hassle guarantees automatic renewal with interest.

Salient features of the scheme:

  • Open an account with minimum Rs.5000/-
  • Minimum period 1 month
  • Deposit receipt renewed with interest automatically on due date for six times
  • Can avail loan up to 90% of accumulated deposit
  • Can change deposit scheme any date in future, noting it on or before due date
  • Interest as per card rates
Apply Now
Annapurna Tax Benefit Deposit Scheme
Save tax and maximize interest on your investment.

Salient features of the scheme:

  • Minimum opening balance Rs. 5,000/-, maximum Rs.1,50,000/- (In a financial year)
  • Deposit for a fixed period of 5 years
  • Interest payable at quarterly rests
  • No premature encashment is allowed
  • Deposit is eligible for deduction u/s 80C” of Income Tax
  • Nomination facility available
  • Interest as per card rates
Apply Now
Non-Resident(External) NRE Term Deposit Account
Term Deposit account for NRE to maintain foreign currency earnings in Indian rupees
Eligible to operate a Term deposit Account:

NRE Term deposit accounts can be opened in the names of non-resident individual of Indian nationality or Person of Indian origin.

Non-Resident Indian (NRE)

As per clause 2(W) of FEMA 1999 indicates that “ A person resident outside India” means a person who is not resident in India

FEMA 1999, as per Clause 2(V) defines a “Resident” as under

A person residing in India for more than 182 days during the preceding FY but does not include a person gone out of India for employment, business, vocation outside India or for any other purpose where his intention to stay outside India for an uncertain period.

Person of Indian Origin (PIO)

PIO means a citizen of any country other than Bangladesh or Pakistan, if he at any time held an Indian Passport, he or either his parents or Grandparents was an Indian and permanent resident in India at any time.   

To open Term deposit Account, you just need to provide:
Duly completed account opening form
Photocopy of  current passport
Photocopy of valid work permit or employment visa
Employment letter
Photocopy of PIO Card
Proof of residence of the applicant
Two recent passport size color photographs of applicant(s)
Apply Now
   
 
         
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