TERM DEPOSIT ACCOUNT

Term deposits, also known as time deposits, are investment deposits made for a predetermined period of time, ranging from a few months to several years. The depositor receives a predetermined rate of interest on the term deposit over the specified time period. Funds deposited for longer time periods command a higher interest rate. Term deposit accounts pay a higher rate of interest than traditional savings accounts.

Type of Deposit

Amount (Min/Max)

Period

Term Deposit

Min. Rs 1000.00

7days -10 years

Recurring Deposit

Multiples of Rs.10.00

1year -10 years

Megh Junior Term Deposit

Minimun Rs.5000.00
Maximum Rs.20000.00

5 years

Megh Junior RD

Minimum Rs.20.00

5 years