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Re-Investment Deposit

In this scheme, regular interest is added to the principal and compound interest calculated and paid at the time of maturity of your deposit. The scheme is beneficial when amount kept for long term or renewed regularly which will help you at sudden when you are in need.

Eligibility :
  • Resident Individuals (either singly or jointly)
  • Associations
  • Trusts
  • Hindu Undivided Families (HUFs)
  • Clubs
  • Societies
  • Firms (proprietorship / partnership)
  • Public / Private limited company
  • Institutions specially permitted by RBI
Features :
  • AMOUNT OF DEPOSIT
    • Minimum ₹ 5,000/- & thereafter in multiples of ₹ 1,000/-
  • PERIOD OF DEPOSIT
    • Minimum: 12 months
    • Maximum: 120 months
  • PAYMENT ON MATURITY
    • On maturity, Submit your self-discharged deposit receipt at home branch. After signature verification, bank officials will credit the maturity amount of said Deposit Receipt to customer’s account with us or will be paid through NEFT / RTGS / Pay Order / Demand Draft.
    • On maturity, if option is given, the TDR receipt will get renewed automatically if amount is below 15 lacs & will be as per applicable rules.
  • PREMATURE PAYMENT
    • Payment before maturity will be available as per the prevailing rules. Also penal interest will be charged as per bank’s rule on premature withdrawal of deposit receipt.
Documentation :
In case of new customers
  • Term Deposit Form (TDF)
  • Customer Information Form (CIF)
  • Identity & Address proof as per KYC norms
  • 2 Passport size photos of applicant
  • Related documents in case of Associations, HUF, Clubs, Trust, Society, etc.
  • Other related documents as per RBI guidelines (If any)
    • In case of existing customers
  • Term Deposit Form (TDF)
  • Related documents in case of Associations, HUF, Clubs, Trust, Society, etc.
  • Other related documents as per RBI guidelines (If any)
ROI :
  • Please click here to know our latest interest rates
TDS :
  • The tax on interest earned is deductible in accordance with the provisions of the Income Tax Act 1961.
  • 15H / 15G required to be submitted for exemption of TDS
Benefits :
  • LOAN AGAINST TDR
    • Loan facility is available under the scheme up to 90% of the deposit amount. ROI is charged as per Bank’s rules.
  • NOMINATION FACILITY
    • Available to eligible persons as per rules
  • DEPOSIT RECEIPT & RENEWAL PROCESS
    • After depositing the amount customer will be issued a printed certificate (TDR) with full particulars filled in such as customer number, name of depositor / s, date of deposit, amount of deposit, deposit account number, period of deposit, due date of deposit & rate of interest, etc.
    • The deposit can be auto renewed on date of maturity as per instructions of depositor & as per rate of interest available on bank’s website.
  • INSURANCE COVERAGE
    • All Deposits made by our customers are covered under the Deposit Insurance & Credit Guarantee Corporation (DICGC) scheme for maximum amount of up to ₹ 5 lakh per customer, subject to applicable regulatory / statutory guidelines as amended from time to time.
Q1. How to check if my term deposit is created?
Q2. Is TDS deductible on the interest earned on term deposits?
Q3. What is Form 15G and 15H?
Q4. How and when can I apply for exemption on TDS?
Q5. Can I redeem my term deposit before the original term?
Q6. Does the Bank offer any special interest rate for Senior Citizen on its Term Deposits?
Q7. Maturity amount of term deposit will be automatically credited in our account on the maturity date?