Features
| Eligibility | · Any individual(singly or jointly) with others
· Minor who have attainted the age of 10 years and above in his/her own name · Proprietorship, Partnership Firm, Commercial Organization, Company, Corporate Body. · Hindu Undivided Family (HUF) · Association, Clubs, Society, Trusts or Religious Institution, Charitable and Educational Institutions · Municipality or Panchayat, Government or Quasi-Government body · Illiterate and blind person can also open this account |
| Deposit Amount | Under this scheme, you can open a fixed deposit account with a single deposit of an amount which is above RS 10 crore and afterward in multiples of Re 1. |
| Period of Deposit | · Maturity Option : the minimum period is 7 days to 120 months.
· Income Option : the minimum period is 6 months to 120 months. |
| Interest | The interest payable under this scheme is on the basis of
i. monthly at discounted value ii. quarterly iii. compounded quarterly on the date of maturity of the account at the option of the depositor as applicable under particular deposit scheme. |
| Auto-Renewal | Auto-Renewal Facility is available under this scheme |
| Nomination Facility | Available |
| Loan/Overdraft Facility | Available |
| TDS | TDS is applicable as per rules. The bank will issue TDS certificate of the tax deducted. |
| Premature renewal/extension | No premature renewal or extension is available under this particular scheme. |
