Term Deposit Monthly Interest Payment

One of the most popular method of saving your hard earned money and earning handsome income on it is to keep it with your bank in the form of fixed deposits. You can decide the term of deposit from 15 days to 120 months. There are different schemes to suit different people.

Salient Features

1. Account can be opened for a minimum period of 12 months to a maximum of 120 months
2. Term Deposit monthly interest scheme earns interest on Monthly basis
3. Nomination facility available
4. Loan / Overdraft facility available up to 90% of the deposit plus accrued interest thereon
5. No TDS deduction if appropriate form (15H/15G) is submitted
6. No Penalty on premature withdrawal of deposits in reinvestment
7. 0.50 % more interest on domestic term deposit above 180 days to the senior citizens and pensioners.
8. 0.25% more interest will be given on the Single Deposit of Rs.15.00 Lacs and above

Eligibility

Any Individual or Group of Individuals, Firms, Corporates / Clubs / Societies / Trusts / Institutions etc.