• Resident Indiansfor himself/ herself as an individual or in the capacity of the Karta of the Hindu undivided family, having Income tax Permanent Account Number (PAN).

Minimum Deposit:
  • Rs. 1,000/- or multiples thereof. Maximum Deposit: Not exceeding Rs. 1,50,000/- in a year.

Type of account:
  • Term Deposit (TD) account / Special Term Deposit (STD) account.

  • Minimum tenor is 5 years and maximum is 10 years.

Rate of Interest:
  • As applicable to Term Deposits.

Premature withdrawal:
  • No term deposit shall be encashed before the expiry of five years from the date of its receipt.

Loan facility :
  • Not available. The TD/STD shall not be pledged to secure loan or as security to any other asset.

  • Nomination facility available.

Most Important Terms & Conditions
  • Tax benefits under section 80C of Income Tax Act, 1961.

  • Tenure: Minimum: 5 years - Maximum: 10 years.

  • Premature withdrawal: Not permitted before the expiry of five years from the date of issue.