-Mangala Nidhi Deposit (Cumulative Deposit)
-Kalpatharu Deposit (Pigmy Deposit)
Rate of Interest of Deposits w.e.f 01.06.2020
|15 days to 45 days 3.50% p.a.|
|46 days to 90 days 4.50% p.a.|
|91 days to 179 days 5.00% p.a.|
|180 days to 1 Year 5.50% p.a|
|Above 1 year up to 3 years 7.25% p.a.|
|Above 3 years up to 5 years 7.00% p.a.|
|Above 5 years 6.75% p.a.|
– The Bank will not accept deposits beyond 10 years of maturity.
– 1% Penalty for pre-closure of deposits (Not applicable to Senior Citizen Deposits).
Senior Citizens Benefit:
Senior Citizens would be entitled to receive 0.5% more on the interest rates offered by the Bank on term deposits.
Benefit to Register societies :
Registered societies would be entitled to receive 0.50% more on the interest rates offered by the Bank on term deposits for above 6 months duration deposits.
Auto Renewal of Term Deposits:
Term Deposit will be renewed automatically. Auto-renewal is a separate and Independent contract at the Bank’s prevailing interest rates on the date of auto-renewal for the same period as the original deposit, till the receipt is presented for payment.
DICGC Insurance Cover for Deposit
All deposits of our Bank are covered under the Insurance Scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (DICGC) subject to certain limits and conditions.