Kshemanidhi Cash Certificates - KCC

Money Multiplier Deposit

Scheme	A re-investment Term Deposit scheme where the deposit amount grows rapidly as interest is compounded quarterly.
Who can open :	An Individual in his/her own name. Individuals in their joint names with suitable repayment instructions. Minor represented by parents / guardian. Clubs, Societies, Associations, Educational Institutions, Trusts, Firms, Partnerships, Joint Stock Companies, Executors, Administrators, HUFs, Govt. Departments, etc.
Period of Investment	Minimum 6 months and maximum 120 months.
Amount of Deposit	Minimum Rs.500/- in Rural & Semi Urban Branches & Rs.1,000/- in Urban, Port town & Metro Branches. No Maximum Limit on deposit.
Rate of Interest	The rate of interest depends on the period of deposit, payable at the rate as decided by the Bank from time to time.
Interest Payment Frequency	Interest will be compounded quarterly, credited to the account half-yearly and paid on maturity.
Add-ons	Nomination facility Premature closure facility as per the rules lay down by the Bank. Loan facility up to 90% on the deposit, while for 3rd party deposit, it is up to 75%

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