Period of Deposit :

For any period between 1 and 10 years in multiple of complete years.

Rate of Interest:

As applicable to Term Deposit and payable half-yearly in September and March every year on the monthly product of Minimum balance maintained between 10th and last day of each month.

Premature Closure:

Premature closure is allowed but penalty for premature closure will be as applicable for normal term deposit scheme

Loan against Deposit

Loan as per prevailing rule of the Bank

Advantage

1.Interest earned under this scheme is not subject to TDS

2.Monthly installment is flexible