Term Deposit Receipt (TDR)
|Tenure||3 months||6 months||1 year||2 years & above|
|Interest Rate||10.00% p.a.||10.50% p.a.||11.75% p.a.||11.50% p.a.|
Terms and Conditions:
- Any person aged 18 (eighteen) years and above is eligible to open this account.
- Legally formed institutions may open this account.
- Any amount of money may be deposited.
- Pre-mature encashment is allowed after 3 (three) months. Interest rate shall be applicable 4% less than the prescribed rate for pre-mature encashment.
- Loan facility is allowed up to 90% of the deposit amount and interest accrued. Interest rate of loan shall be 2% higher than the deposit rate.
- Tax and Excise Duty shall be as per the Government rules.
- For Individuals aged 60 years & above, higher interest @0.25% than the prescribed rate may be allowed.