- Minimum amount for opening account is Rs.1000/-. Accounts may also be opened in odd sums.
- Deposits are accepted for periods of 7 days.
- Interest is paid quarterly at the full value of interest. The same is paid monthly at the discounted value of interest.
Features
- The maximum period for which term deposits are accepted is 10 years
- Nomination facility available
Exceptions
- Deposits accepted under Court orders.
- Deposits in the names of minors for protection of minor's interest. In case of minors, accounts can be opened.
- In the single name of the minor under guardianship, the deposit being repayable to him/her.
- In the single name of the minor under guardianship, the deposit being repayable to the guardian.
- In the name of the minor, jointly with the guardian, the deposit being repayable to them jointly / former or survivor /either or survivor.
