Eligibility

Individuals either singly or jointly with two or more persons, institutions, companies, firms, societies, Traders, Professionals, salaried individuals etc.

Minimum Deposit Amount

Minimum deposit amount Rs. 10000/- and in multiples of Rs. 1000/-

Minimum & Maximum Period

6 Months to 120 Months

Payment of Interest

Quarterly compounding and paid at the time of maturity

Remarks

• Each remittance is accepted for identical period
• The amount of the deposit the customer wishes to deposit, may be split into convenient units and held as different remittances under the same MDA
• The depositor has the option of making any number of deposits under the same account and each remittance will be deemed as a separate deposit
• Maturing after the agreed period
• Separate deposit receipt is not issued for each deposit but a passbook is issued showing each remittance with interest rate, due date and maturity value
• If the depositor wants to take back a part of his deposit amount the required number of units can be closed and repaid while the remaining amount remains intact and earns interest.