Term Deposit is one type of deposit scheme where you can enjoy an increasing rate of interest that compliments with a longer period of deposit. Stay stress free with the option of easy liquidity and your money is safe and secure.
Features
Benefits | · In this plan the government of India accepts the money that is deposited as a security. · For non-fund based facilities deposits are accepted as the margin money. |
Overdraft Facility | Available, up to 95% of the deposit amount additional to the accumulated interest thereafter. |
Nomination Facility | Available |
Processing Fee | There are no processing fees involved under this scheme for Loans and Advances against bank deposit. |
Pre-mature Payment | There is no penalty for pre-mature payment of deposit up to Rs 5 lacs provided the amount should remain in the bank for period of at least 12 months. |
Pre-mature Withdrawal | Available, although if you withdraw the amount before the time of maturity then interets will be calculated at 1% below the rate applicable for the period of deposit. |
Auto-Renewal Facility | Available |