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 |
5 years |
|
Megh Junior RD |
Minimum Rs.20.00 |
5 years |
|
Ka Spah / An.gni Gam
|
Minimum Rs.50000.00 Maximum Rs.5000000.00 *Only for the period 02.08.2023 to 30.09.2023, which may be reviewed as and when found suitable by the Committee. |
425 days |
