Deposit Schemes

Savings Deposit:

Savings Account with cheque book facility is offered by the bank to its individual customers.

Current Deposit:

Current Account with cheque book facility is offered by the bank to its corporate and business clients.

Fixed Deposit:

The bank offers attractive rates on fixed deposits for various maturity periods. Facility for drawing interest on monthly or quarterly basis is also provided.

Bhagyalaxmi Deposit:

This is a cumulative term deposit scheme under which money multiplies faster to yield targeted amount for the customer as per the deposit period convenient to him. It is quarterly compounded.

  • Interest earned on the term deposits and savings deposits attract TDS, if the interest exceeds Rs.10000.00.

Recurring Deposit:

Under this scheme the customer can save small amount in monthly installments for a fixed term to get back a lumpsum. Interest is accumulated on principal over the saving period at attractive rates of interest

  • All the deposits upto Rs.1.00 Lakh per deposit are covered by insurance under DICGC scheme with Depositor Insurance & Credit Guarantee Corporation.

Rate of Interest of various deposit schemes is given here under.

WITH EFFECT FROM 29.08.2017
PERIOD OF DEPOSIT RATE OF INTEREST
PUBLIC SENIOR CITIZEN
15 DAYS TO 30 DAYS 6.00 6.50
31 DAYS TO 45 DAYS 6.00 6.50
46 DAYS TO 90 DAYS 6.60 7.10
91 DAYS TO 179 DAYS 6.75 7.25
180 DAYS TO 364 DAYS 7.10 7.60
1 YEAR TO BELOW 2 YEARS 7.15 7.65
2 YEARS TO BELOW 3 YEARS 7.00 7.50
ABOVE 3 YEARS 7.00 7.50
Existing Revised (w.e.f. 25.04.2018)
S.No. Period Rate of int.(% p.a.) Period Rate of int.(% p.a.)
1. 7 days to   14 days 6.00 7 days to   14 days 5.00
2. 15 days to   30 days 15 days to   30 days
3. 31 days to   45 days 6.00 31 days to 45 days 5.60
4. 46 days to   90 days 6.50 46 days to   90 days 6.50
5. 91 days to  179 days 6.50 91 days to  179 days 6.50
6. 180 days to 270 days 6.75 180 days to 270 days 6.75
7. 271 days to 364 days 6.95 271 days to 364 days 6.95
8. 1 yr exact 7.10 1 year exact 7.10
9. 1yr 1 day to less than 2 yrs 7.00 1 year 1 day to less than 2 yrs. 7.00
10. 2 yrs to less than 3 yrs 6.60 2 yrs to less than 3 yrs 6.60
11. 3yrs to less than 5 yrs 6.60 3 yrs to less than 5 yrs 6.60
12.  5 yrs and upto 10 yrs 6.60 5 yrs and upto 10 yrs. 6.60

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