1 year Deposits, 555 Deposits & 666 Deposits

       The salient features of One Year, 555 Days & 666 Days deposits:-

1

Period of Scheme

1 Year

555 Days

666 Days

2

Rate of interest

6.70%  P.A

6.75% P.A

6.80% P.A

3

Deposit Amount:-

 

 

 

Minimum

As applicable for FD/KCC deposits

 

Maximum

Less than Rs.2 Crore

Less than Rs.2 Crore

Less than Rs.2 Crore

 

  • One year, 555 days and 666 Days FD/KCCs can be opened with AUTO RENEWAL facility at prevailing rate of interest on the date of maturity/renewal.
  • The above mentioned deposit slabs shall be available under NRE & NRO category also.
  • In terms of RBI guidelines, no interest will be paid on NRE Term deposits if closed before the completion of one year.
  • Additional interest to senior citizens & staff members will be paid as per existing guidelines.
  • The deposits under these slabs can be accepted from all segments except bank deposits.
  • Premature closure penalty of 1% will be applicable to all deposits.
  • Splitting/slicing of deposits to obtain higher rate of interest is prohibited as the same is violative of RBI guidelines.
  • These deposits are made available for a limited period only.

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