SIB MAX PLUS | Non Callable Deposits

1.      Minimum deposit amount of  Rs.1,00,00,001/- and Maximum deposit amount of less than Rs.3 Crore, allowed for specific tenure only.

2.      Non-callable Term deposits will not be allowed to be withdrawn prematurely under any circumstances.

3.      The deposit is made available in Cumulative and Simple interest schemes.

4.      In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted value.

5.      No additional interest rate will be applicable for senior citizens,staff and retired staff under Non-callable Term deposits

6.      Loans and Overdraft facilities will not be available against Non-callable term deposits.

7.      TDS and all other feature same as that of other Term Deposits.

(The product got replaced as SIB Max Plus with new features w.e.f 4^th December 2023) 

1.      The deposit cannot be closed prematurely except few exceptional eventualities like court/statutory attachments; death of depositor, insolvency, etc.

2.      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

3.      NRE deposits if closed prematurely before one year no interest will be credited as per RBI directives.

4.      Loans are available as per the features of existing Term Deposits. 

5.      TDS and all other feature same as that of other Term Deposits.