|
Period during
which opened |
Minimum Amount of Deposit
(Rs.) |
Maximum Amount in
case of Single Account
(Rs.) |
Rate of
Interest |
Monthly Interest
Payable on Minimum Deposit
(Rs.)
|
|
From
|
To
|
|
01.06.1993 |
01.09.1993 |
6,000 |
2,04,000 |
14% |
70.00 |
|
02.09.1993 |
31.12.1998 |
6,000 |
2,04,000 |
13% |
65.00 |
|
01.01.1999 |
14.01.2000 |
6,000 |
2,04,000 |
12% |
60.00 |
|
15.01.2000 |
31.01.2000 |
6,000 |
2,04,000 |
11% |
55.00 |
|
01.02.2000 |
17.07.2000 |
6,000 |
3,00,000 |
11% |
55.00 |
|
18.07.2000 |
28.02.2001 |
1,000 |
3,00,000 |
11% |
9.00 |
|
01.03.2001 |
28.02.2002 |
1,000 |
3,00,000 |
9.5% |
8.00 |
|
01.03.2002 |
28.02.2003 |
1,000 |
3,00,000 |
9.0% |
7.50 |
|
01.03.2003 |
15.08.2007 |
1,000 |
3,00,000 |
8.0% |
7.00 |
|
16.08.2007 |
onwards |
1,500 |
4,50,000 |
8.0% |
7.00 |
Features
Only one deposit in
an account.
Only individuals
can open the account; either single or joint.( two or three )
Maturity period - 6 years; Lockup period - 1 year.
Interest rounded
off to nearest rupee.
Interest is paid to the depositor monthly on completion of
the month from the date
of initial deposit.
Monthly
interest can be automatically credited to savings account.
Premature closure is permitted
i. After 1 year and before 3 years, with reduction of 2% from deposit amount
ii. After 3 years, with reduction of 1% from deposit amount
(The rates of reduction applicable to premature closure is w.e.f 10/02/2006)
On maturity, 10 % of principal is paid as bonus to the depositor, only in respect of
accounts opened prior to 13/02/2006.
On maturity,
5 % of principal is paid as bonus to the depositor, only in respect of
accounts opened on or after 08/12/2007.
|
