Option-1:- simple interest:- quarterly interest to be credited in saving account of the customer.
Option 2:- cumulative interest:- quarterly interest to be coumpounded on quarterly basis.
| Period | interest Rate (Annual) | Minimum Amount |
|---|---|---|
| 3 months and above | 5.75 | 10000 |
| 6 months and above | 6 | 10000 |
| 9 months and above | 7 | 10000 |
| 1 year and above | 8 | 10000 |
| 2 year | 9 | 10000 |
| 3 year | 9.5 | 10000 |
| 4 year | 9.75 | 10000 |
| 5 year | 10 | 10000 |
| 6 year | 10 | 10000 |
| 10 year | 10 | 10000 |
- ➤ Minimum FD will be Rs. 10000/- and then in the multiple of Rs. 1000/-
- ➤ Fixed deposit interest will be simple or cumulative as per request of the customer.
- ➤ Loan on fixed deposit will be till 90% with 3 % additional interest on fixed deposits
- ➤ Premature interest will be 2% lower than the prevailing interest rate for the period of deposit at the time of making the fixed deposit.