Personal BankingAccounts & DepositsTerm DepositsSIB MAXIMO-Non Callable Deposits

Salient Features of “SIB MAXIMO”:

1. Minimum amount of deposit is Rs.15,00,001/- and Maximum amount of deposit is below Rs. One Crore only.
2. Period of Deposit is 15 months.
3. The scheme will be open from 19-02-2016 for a short period only.
4. The deposit cannot be closed prematurely except few exceptional eventualities like court/statutory attachments; death of depositor, insolvency, etc. Pre closure penalty will be 2 %, i.e. higher than the existing rate for normal term deposits. On preclosure applicable rate of interest minus 2% or contracted rate minus penalty of 2% whichever is lower.
5. The deposit is made available in Cumulative and Simple interest schemes i.e. FD/KND.
6. If monthly interest is required it will be at discounted values as applicable to other deposits.
7. NRE deposits if closed prematurely before one year no interest will be credited as per RBI directives.
8. Loans are available as per the features of existing Term Deposits.
9. TDS and all other feature same as that of FD and KND.
10. Please contact branches for rates for “deposits one crore and above”

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