Reinvestment Plan - Personal Banking
Special Term Deposit
This product is a variant of Term Deposits but instead of Interest being paid out at a regular frequency during the period of deposit; here it is paid out only at the time of maturity. Regular interest is added to the principal and compound interest calculated and paid thereon
Features
- Minimum period of deposit - 6 Month
- Maximum period of deposit- 10 Years
- Available at all branches
- Minimum deposit amount Rs. 1,000/- and thereafter in multiples of Rs. 100/-
- Maximum deposit amount: No Upper Limit
- A deposit of Rs. 2 crore and more is treated as bulk deposit
- Interest on deposit is compounded quarterly and paid to depositor at the end of the term
- Nomination available in favour of individual only
- Term Deposit (together with interest) of Rs. 20000/- and above shall not be paid in cash.
- Transferability allowed among our branches
- TDS is applicable as per Income Tax Rules. Form 15G/H can be submitted by the depositor for exemption from tax deduction as per IT Rules.
- Loan against deposit is allowed with applicable margin as under:
Residual tenor of Deposit as on Date of availing loan (For Public) | Margin |
---|---|
Upto 36 Months | 5 % |
>36 months & upto 60 months | 10 % |
>60 months | 15 % |
Eligibility
- Resident individuals singly or jointly, Minor (himself/herself or through his/her Guardian), Karta of HUF, Firm, Company, Local Bodies and Any Government Department
Terms And Conditions
- Premature closure available.
- For Term Deposit up to Rs 5.00 lacs, the penalty for premature withdrawal will be 0.50% (all tenors).
- For Term Deposits above Rs 5.00 lacs, applicable penalty will be 1% (all tenors).
- The interest shall be 0.50% or 1% below the rate applicable at the time of Deposits for the period Deposit remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower.
- However, no interest will be paid on Deposits which remain for a period of less than 7 days.
Last Updated On : Thursday, 29-07-2021

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.45%
3 years to less than 5 year
5.50%
5 years to less than 10 years
Deposits Landing Page

Motor Accident Claims Annuity (Term) Deposit Account (MACAD)

Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.45%
3 years to less than 5 year
5.50%
5 years to less than 10 years