Fixed Deposits

In a Fixed Deposit, the sum of money is blocked for the period of the deposit. Banks allow depositors the flexibility to invest their funds from periods as low as 15 days to 10 years. On the date of maturity, the bank credits the principal and interest to the bank account of the depositor. depositor can withdraw Interest amount Monthly/Quarterly/Half Yearly/Yearly or on maturity as per the requirement of the depositor. Anyone with a bank account can open an FD with as low as Rs.1,000.

TDS Deduction will not be done if Copy of PAN with duly filled Form 15G / Form 15H submitted to the Bank as per IT Act

Bank allows opening of FD accounts for the following category

• Account may be opened by Individuals / Minors / Regd. Co-op. Societies / Regd. Public Trusts / HUFs.
• To open Society /Trust Account Bye-Law and Board resolution copy , KYC Documents of all Directors
• Auto Renewal Facility with interest and without interest.
• Avail loan upto 90% of the deposit, if need

Advantage to Senior Citizen:

• Senior Citizens are an asset to our society. They have given their hard worked years for the development of the entire nation and our community. At this crucial age they need to be taken care of and make them feel special.
• Bank Provides Benefits to Senior Citizens By Providing 0.5% Extra On Fixed Deposits.

Rate of interest :

• SAVINGS BANK ACCOUNT 3.00%

Fixed Deposit : Interest on a FIXED Deposit is Simple Interest method (interest is earned only on the principal amount)

Lakshmi Deposit : Interest on a LAKSHMI Deposit is Compound Interest method, you earn interest on the principal, and you earn interest on the interest also.