On the occasion of our Banks “Founders Day” i.e. 29th January our 750th branch was inaugurated at Pallikara, Ernakulam by our Brand Ambassador Bharat MAMMOOTTY. We are pleased to introduce a short term deposit scheme where we are incentivizing our customers with better interest rates on this grand occasion.
Salient Features of SIB 750
- Period of Deposit 15 months.
- Rate of interest 9.6% for General ,NRE and NRO Deposits
- Rate of Interest for Senior Citizen Domestic deposits will be 10.10 %
- The scheme will be open for a short period only.
- The scheme will be available in Domestic/NRO/NRE categories and will carry same rates.
- Minimum amount of deposit is Rs 1000/- and maximum amount Rs One Crore only.
- Rates for deposits above One Crore to be obtained from our Treasury Dept.
- The deposit is made available in Cumulative and Simple interest schemes.FD/KND
- If monthly interest is required it will be at discounted rates as applicable.
- Recurring Deposits opened for 15 months during this period also will be getting same interest as applicable to SIB 750
- Flexi Deposits of 15 months will also be offered same rate of interest
- Preclosure penalty as applicable to other deposits (i.e. 0.5% up to 15 lakhs and 1% for deposits of 15 lakhs and above).
- The Additional interest for Senior Citizen is not applicable to NRO and NRE Deposits.
- NRE deposits if closed prematurely before one year no interest will be credited as per RBI directives.
- TDS and all other feature same as that of other term deposits