Sreenidhi Cash Certificate

Eligibility : Individuals (singly or jointly), Minor by guardian, Organizations, Co-op. Societies

Minimum Balance: Rs. 5000/- and further rise in multiples of Rs. 100/-

Rate Of Interest: { CURRENT INTEREST RATES }

Special Features/Facilities: TDS applicable Form 15H/15G required to be submitted for exemption of TDS. If you are exempt from paying tax, you need to present Form 15H when you open a Fixed Deposit and subsequently at the beginning of the following financial year.

Charges / Penalty: In case of payment before maturity Interest upto 30 days will be Nil Above 30 days : 1% less than applicable rate of Interest for the actual period for which deposit is kept with the Bank.( @ Simple Interest)

Account closure : As above, if payment is before maturity .

 

RATE OF INTEREST ON FIXED DEPOSITS With effect from 01st May 2020 (BOD Resolution Dated 24/04/2020)

PERIOD

Rate of Interest

31 Days upto 90 Days

4.75%

91 Days upto 180 Days

5.25%

181 Days upto 1 Year

5.75%

Above 1 Year upto 2 Years

6.75%

Above 2 Year upto 3 Years

7.25%

Above 3 years upto 5 years

7.50%

5 years & Above

7.00%

Minimum period is 15 months for Sreenidhi Cash Certificate & Recurring Deposits.

  • "Bulk Deposits" means Single rupee term deposits of Rs.1.00 Crore & above.
  • 0.50% extra for SENIOR CITIZENS (60 Years and above) for the deposits of above 1 Year.
  • 0.50% extra for BULK DEPOSITS for  above 1 Year.