Kshemanidhi Cash Certificates - KCC

Money Multiplier Deposit

  • 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.
  • 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%