Deposit

• Flexi Deposit
• Term (Fixed) Deposit.
• MIS Deposit.
• Recurring Deposit.

Features of a Flexi Deposit:

• Quick & easy financial transactions.
• Minimum documentation
• Interest earnings.
• Passbook facility.
• Minimum Balance Rs. 500/-.
• Should be treated as inoperative/ dormant if there are no transactions in the account for over three years.

Features of Term Deposit:

Only term deposits, for terms above one year would be raised by the Apex Bank & PCARDBs;

• Payment of Interest on any Term Deposit will be made on quarterly compounding basis.
• A Term Deposit which matures on a Sunday or on a Public Holiday or weekdays and if the Depositor(s) will come within 14 days of the said time-deposit, renewal will be done with retrospective effect as per maturity date.
• In case of renewal, additional Flexi Interest will be payable at the interim period as allowed on the Deposit for the period between the date of maturity of the Deposit and date of renewal of the Term Deposit.
• LAD will also be applicable maximum upto 90% of the value.

Features of MIS (Monthly Income Scheme):  

• Standing Instruction facility(auto-sweep) available from MIS to Flexi automatically
• Lucrative rate of Interest

Features of RD (Recurring Deposit):  

• Standing Instruction facility(auto-sweep) available from Flexi to RD automatically
• Lucrative rate of Interest