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FIXED DEPOSIT
FIXED DEPOSIT
In Fixed Deposit, you put a lump sum for a fixed tenure at an agreed rate of interest.The interest accrued can be withdrawn either monthly,quarterly, half yearly or annually. Senior Citizens get an additional interest of 0.5%.The rate of interest is decided by Registrar of Co-Operative Societies and is periodically revised
The bank accepts deposits at interest rates as described below
|
Days
|
Interest Rate
|
Senior citizen Interest Rate
|
|---|---|---|
|
15 days to 45 days
|
6.00%
|
6.50%
|
|
46 days to 90 days
|
6.50%
|
7.00%
|
|
91 days to 179 days
|
7.25%
|
7.75%
|
|
180 days to 364 days
|
7.50%
|
8.00%
|
|
1 year to below 2 years
|
8.25%
|
8.75%
|
|
2 years and above
|
8.00%
|
8.50%
|