Fixed Deposits (or Term Deposits) are accepted for any period between 7 days to 10 years) with attractive interest rates. Any number of Term Deposit Accounts can be opened with a minimum amount of Rs with auto renewal facility.
An individual who has attained majority (singly or jointly with an adult or minor) or even a minor represented by the Guardian, , HUL, all legal business entities and companies, other bodies like Clubs, Trusts, Government Departments etc.
- Nomination facility - available.
- Auto renewal facility and premature closure of the Account - available
- Standing instructions from the customers - executed.
Loan /overdraft facility:
- You can avail a loan/overdraft against your deposit. Bank provides you loan / overdraft of your deposit amount at nominal cost. So you continue to earn interest in your deposit and still can meet your urgent financial requirements
SGB– A Tax Saving Fixed Deposit
An Amount up to Rs 1 lakh in a year for a fixed period of 5 years invested under this Tax Saving Fixed Deposit, is eligible for deduction from income under Section 80 (C) of Income Tax Act. Interest will be determined by bank from time to time for general public.
No premature payment will be allowed. The deposit cannot be pledged to secure any loan or as security to any other loan / facility.