Deposit Details

Fixed Deposits

  1. Deposit can be made for a period between 12 months to 36 months, and the depositor can opt for monthly / quarterly interest withdrawal or quarterly compounding interest
  2. Deposits shall be accepted in multiples of Rs.1000/- subject to a minimum amount of Rs. 5000/-
  3. Deposits can be accepted through Cheque/NEFT/RTGS/UPI
  4. Nomination facility is available
  5. Premature closing is allowed subject to penalty as per RBI norms.
  6. On maturity the depositor  can opt for either renewal of the deposits or Repayment of maturity amount.

Rate of Interests

Fresh Deposits/Renewals (w.e.f. 01.04.2024)

Rates % Per annum

Term in months

 

Non-Cumulative Deposits

Cumulative Deposits

Monthly

Quarterly Rest

Effective Yield % per annum

Maturity Value for Rs.5000

`12-24

General Public

 

7%

7.19%

5,359

Senior Citizen**

 

7.25%

7.45%

5,372

25-36

General Public

8%

8%

8.94%

6,341

 

Senior Citizen**

8.25%

8.25%

9.25%

6,388

**Completed age 60 years on the date of Deposit/Renewal

Before opening any Deposit Account, the company will Carry out due diligence as required under ‘Know Your Customer (KYC) policy of the company and the customer has to submit necessary supporting documents to do so. Also the customers has to submit the account opening form with required particulars.

 

DISCLAIMER:

The company is having a valid certificate of registration No. 07-00364 dated 09.11.1998 issued by Reserve Bank of India under section 45-IA of the RBI Act. However, the Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

Click here for Deposit application form and Terms and conditions governing acceptance of deposits.