Multiply Your Deposits :
The interest accrued gets added back to the principal giving you an effective interest rate that is higher than the contracted interest rate. This is an ideal scheme to increase your deposits exponentially.
Amount of deposit :
You can deposit a minimum amount of Rs. 5000/- and multiples of Rs. 100/-.
Period of deposit :
You can open an account for a minimum period of 12 months and upto a maximum of 84 months.
Rate of interest :
The rate of interest shall be the appropriate rate prevailing on the date of the deposit for the period so selected.
Deposit certificate:
After opening of the account, you will be issued a printed certificate (CJ deposit certificate) with full particulars filled in such as Your name, amount of deposit, period of deposit, date of deposit, due date of deposit, interest rate of deposit and maturity value etc.
Premature payment :
Payment before maturity is available as per prevailing rules.
Loan/advance :
Loan/advance against deposits Loan/advance facility is available under the scheme up to 80% of the deposit amount as per Prevailing rules.
| Important Notice to Depositors: |
| As per section 206AA introduced by Finance (No. 2) Act, 2009 w.e.f. 01.04.2010, every person who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall be deducted at the rate of 20% (as against 10% which is existing TDS rate) in case of Domestic deposits and 30.90% in case of NRO deposits. Please further note that in the absence of PAN, Form 15G/H and other exemption certificates will be invalid even if submitted & penal TDS will be applicable. Please visit the Bank branch to submit or confirm updation of your PAN with the bank. |