Eligibility Individual (singly or jointly) with others
  Minors who have attained the age of 10 years and above in his own name on giving proof of age
  Minors under guardianship of natural/legal guardian
  Proprietorship/partnership firm, commercial organization, company/ corporate body
  Hindu Undivided Family
  Association, club, society, trust or religious / charitable or educational institution
  Municipality or Panchayat, Government or quasi – government body
Deposit Amount Minimum deposit of Rs.10, 000/- and thereafter in multiples of Rs.1, 000/- with maximum amount of Rs.10.00 Crore.
Rate of Interest As circulated from time to time by HO: IRMD(ALM)
Period of Deposit 333 Days (FIXED)
Auto Renewal Default period of Renewal has been set as 12 months
Part Withdrawal Not Allowed
Tax Deducted At Source The extant guidelines issued by HO: Finance Division, Finance & Taxation Cell, from time to time shall be applicable.
Demand Loan/Overdraft facility   Deposits on written request shall be eligible for Demand Loan/overdraft facility.
  The option/facility of ‘overdraft’ shall not be available in the account opened in the name of illiterate or a blind person.
Premature Closure 1% penal interest shall be charged at the time of premature cancellation of the term deposits for all tenors and interest rate payable would be contractual rate minus 1% or the rate under the scheme on the contractual date applicable for the tenor for which the deposit has actually run minus 1%, whichever is lower.
No penalty is to be levied if the deposit is prematurely closed for the purpose of investment to any other term deposit scheme of the bank provided that the deposit remains with the bank after the re-investment for a period longer than the remaining period of the original contract.
  Staff members/Senior Citizen (except their term deposit, if any, accepted by Bank on Differential Rate of Interest basis), instances of death of the depositor before maturity, and are exempted from the levy of 1% penal interest.

*Other terms and conditions as per general guidelines

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