Scheme Options

  • Non-Cumulative Deposits

It is a Deposit where the interest is paid at Monthly/Quarterly intervals.

Interest for Non-Cumulative Deposits will be paid as per below given schedule:-

  • Monthly – Last Working Day of Every Month
  • Quarterly – Last Working Day of March/June/September/December

Deposit Period/Tenure

  • Minimum deposit tenure – 12 months
  • Maximum deposit tenure – 42 months

Interest Payment Modes:

  • Through ECS/NEFT
  • Post-dated interest cheques where ECS/NEFT facility is not opted by the deposit holder.
  • Cumulative Deposits

It is a Deposit where the interest is paid at the time of maturity along with the Principal amount.

Deposit Period/Tenure

  • Minimum deposit tenure – 12 months
  • Maximum deposit tenure – 42 months

Premature Withdrawal

The company reserves the right to allow, at its absolute discretion, withdrawal of deposit before maturity.

Up to 6 months from the date of deposit/ renewal

No interest will be paid*

After 6 months but before the date of maturity

The Interest payable shall be 1 per cent lower than the Interest rate applicable to a deposit for that period for which the deposit has run or if no rate has been specified for that period, then 3 per cent lower than the minimum rate at which deposits are accepted by the Company *

Maturity Process

On Maturity the depositor can opt for:

  1. Payment of Maturity Amount
  2. Renewal of Maturity Amount

Payment of Maturity Amount

The Company shall intimate the details of maturity of the deposit to the depositor at least 7 days before the date of the maturity of the deposit. Interest will cease on the maturity date of the deposit, if the deposit is not renewed within six months from the date of maturity, or if the deposit is withdrawn after the maturity date.

Redemption payment will be made only by National electronic clearing services (NECS)/ National Electronic Fund Transfer (NEFT) wherever such facility is available and by crossed Account payee cheque for depositors in other locations.

Renewal of Maturity Amount

A deposit can be renewed by giving suitable instructions for repayment of differential amount before due date of maturity. A deposit can also be renewed by giving the differential amount. Such consolidations can be done only on the due date of maturity only on receipt of differential amount by the Company at least one day before the due date of maturity.

Deposits can be renewed from the date of maturity date if renewal instructions along with deposit receipts except for auto renewal, are received within 6 months from the date of maturity. In such cases the rate prevailing on the date of maturity will be applicable. Otherwise the same will be renewed prospectively and in such cases interest ceases on maturity. Renewal of deposit will be for an amount net of TDS if any.

We also offer loans against fixed/cumulative deposits at an attractive interest rate of only 2% above the deposit rate.