Term Deposit (Monthly Interest Payment)

Earn a Regular Monthly Income with Your Fixed Deposit

The Term Deposit (Monthly Interest Payment) scheme at The Citizens Urban Co-operative Bank Ltd., Jalandhar is ideal for individuals looking for a steady monthly income from their savings while ensuring the safety of their principal.

Choose a tenure that suits your needs, ranging from 12 months to 120 months, and receive monthly interest payouts directly to your account.

Who Can Open:

✅ Individuals and Joint Account Holders
✅ Firms and Corporates
✅ Clubs and Societies
✅ Trusts and Institutions

The Term Deposit (Monthly Interest Payment) is perfect for retirees, pensioners, and individuals seeking additional monthly income while keeping their capital secure.

Salient Features:

✅ Tenure: Flexible deposit period from 12 months to 120 months.
✅ Monthly Interest Payout: Interest is credited every month to provide you with a regular income stream.
✅ Nomination Facility Available for security and peace of mind.
✅ Loan/Overdraft Facility: Avail up to 90% of your deposit plus accrued interest in case of urgent financial needs without breaking your deposit.
✅ No TDS Deduction if applicable Form 15H/15G is submitted.
✅ No Penalty on Premature Withdrawal in case of reinvestment deposits.
✅ Extra Interest Benefits:

0.50% additional interest on deposits above 180 days for senior citizens and pensioners.
0.25% additional interest on single deposits of ₹15 lakhs and above.