Bank Fixed Deposits are also known as Term Deposits. In a Fixed Deposit Account, a certain sum of money is deposited in the bank for a specified time period with a fixed rate of interest. The rate of interest for Bank Fixed Deposits depends on the maturity period. It is higher in case of longer maturity period. There is great flexibility in maturity period and it ranges from 30 days to 10 years. The interest can be compounded quaterly, half-yearly or annually. Minimum deposit amount is Rs.1000/- and there is no upper limit. Loan facility is available against bank fixed deposits. Premature withdrawal is permissible but it involves loss of interest.
A reliable monthly investment tool to plan for your future financial needs. All the Deposits of The Shahada People's Co-op Bank Ltd., are insured under Deposit Insurance and Credit Guarantee Corporation (DICGC). Under the norms of DICGC all deposits of the customers in the same capacity and same right up to Rs.5,00,000/- have been insured under DICGC cover.
| Period of Deposit | Minimum 31 days and Maximum 999 days |
| Interest Payment | Quarterly Interest Payable on Maturity |
| Minimum Amount of Deposit | Rs. 1000/- |
| Maximum Amount of Deposit | No Limit |
| Pledging of Deposit | Allowed |
| Premature Withdrawal | Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit. |
| Additional Interest Rate for Senior Citizen | Applicable (0.25%) |
| Eligible Depositors | All depositors |
| Interest Rates |
Click here to view Rate of Interest
|
| Period of Deposit | Minimum 31 Months and Maximum 120 Months |
| Interest Payment | Monthly Interest will be credited as per instructions of Depositor to his SB, CA A/c etc. |
| Minimum Amount of Deposit | Rs. 1000/- |
| Maximum Amount of Deposit | No Limit |
| Pledging of Deposit | Allowed |
| Premature Withdrawal | Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit. |
| Additional Interest Rate for Senior Citizen | Applicable (0.25%) |
| Eligibility | The Account can be opened in the name of an Individual, Minor, Joint, Firms, Society, etc. |
| Interest Rates |
Click here to view Rate of Interest
|
| Period of Deposit | Minimum 31 Months and Maximum 120 Months |
| Interest Payment | Ouarterly Interest will be credited as per instructions of Depositor to his SB, CA A/c etc. |
| Minimum Amount of Deposit | Rs. 1000/- |
| Maximum Amount of Deposit | No Limit |
| Pledging of Deposit | Allowed |
| Premature Withdrawal | Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit. |
| Additional Interest Rate for Senior Citizen | Applicable (0.25%) |
| Eligibility | The Account can be opened in the name of an Individual, Minor, Joint, Firms, Society, etc. |
| Interest Rates |
Click here to view Rate of Interest
|
