Special Term Deposit
This product is a variant of Term Deposits but instead of Interest being paid out at a regular frequency during the period of deposit; here it is paid out only at the time of maturity. Regular interest is added to the principal and compound interest calculated and paid thereon.
Features
- Minimum period of deposit - 6 Month
- Maximum period of deposit- 10 Years
- Available at all branches
- Minimum deposit: Rs. 1,000/-, Maximum deposit: No upper Limit
- A deposit of Rs. 1 cr and more is treated as bulk deposit
- Interest on deposit is compounded quarterly and paid to depositor at the end of the term
- Nomination available in favour of individual only
- Term Deposit (together with interest) of Rs. 20000/- and above shall not be paid in cash.
- Transferability allowed among our branches
- TDS is applicable as per Income Tax Rules. Form 15G/H can be submitted by the depositor for exemption from tax deduction as per IT Rules
Loan against deposit is allowed with applicable margin as under
| TENURE OF DEPOSIT | MARGIN |
|---|---|
| >12 MONTHS | 15% |
Eligibility
Below are the individuals and entities eligible for a Regular Fixed Deposit:
- Resident Individuals singly or Jointly
- Minor ( himself/herself or through his/her Guardian )
- Hindu Undivided Families
- Sole Proprietorship Firms
- Partnership Firms
- Limited Companies
- Trust Accounts
- Local Bodies and any Government Department.
Terms and Conditions
- Premature closure available
The revised interest rates on term deposits will be as under:
| Sl No. | Period | Revised Interest Rates w.e.f. 11.01.2023 |
|---|---|---|
| 1 | 7 days to 14 days | 3.50% |
| 2 | 15 days to 30 days | 4.00% |
| 3 | 31 days to 45 days | 4.00% |
| 4 | 46 days to 90 days | 4.60% |
| 5 | 91 days to 120 days | 5.00% |
| 6 | 121 days to 179 days | 5.10% |
| 7 | 180 days to 210 days | 5.50% |
| 8 | 211 days to less than 1 year | 5.80% |
| 9 | 1 year to less than 2 years | 6.90% |
| 10 | 2 years to less than 3 years | 6.85% |
| 11 | 3 years to less than 5 years | 6.75% |
| 12 | 5 years to 10 years | 6.70% |
| 13 | TGB-KAMDHENU - 399 days | 7.30% |
| 14 | TGB AMRUTHA - 777 Days | 7.40 % |
| 15 | TGB AISHWARYA - 1111 Days | 7.00 % |
| 16 | TGB SAMPANNA - 1555 Days | 7.10 % |
| 17 | TGB KANAKADHARA - 2425 | 6.80% |
| 1 | Rate of interest for the term deposits of Rs.1.00 Crore (including split deposits) and above (including renewals) will be decided at Head Office on day to day basis as per the Bank's Requirement. |
| 2 | The above rates are applicable for NRE & NRO deposits also. |
| 3 | Staff will get an additional interest of 1.00% over card rate. |
| 4 | Senior citizens will get an additional interest rate of 0.50% over card rate for 1 year and above term deposits only. |
| 5 | For Super senior citizen of age 80 years and above, special rate is applicable for the special schemes only . |
| 6 | Our Bank's Retired Staff, on Superannuation, will get an additional interest rate of 1.00% p.a. on all deposits and also 0.50% p.a. as senior citizens. |
| 7 | Revised rates on deposit are applicable on new deposits and also for the existing deposits on their renewal. |
Please Contact Your Branch for further details.
Quick Menu