Daily Deposit

A small savings scheme introduced to encourage thrift habit in people. In this daily deposit scheme, the customers can keep adding to their bank balance small or big amounts of their choice and it is particularly beneficial for people who work on a daily wage basis and also among small income groups. They can keep their bank accounts alive and active by contributing even amounts below Rs. 100. Almost 90% of the deposit can be availed as loan.

The customers needn't even come to any of our bank branches to deposit the money as they can hand it over to our collection agents who would go to them and collect the amount. Every day the bank’s agent will come to collect the deposit and issue a on the spot deposit receipt. The deposit is to be maintained for a minimum period of one year and no withdrawal or closing of account is permitted within one year of opening the account. A minimum interest is paid to the daily deposit schemes.

FEATURES & BENEFITS

Amount of daily Installment : Rs. 100/- and above in multiples of Rs. 50
Tenure : Tenure
rate : Fixed.
Interest calculation : As applicable to Savings Deposit.
Premature withdrawal : Allowed

Daily Deposit Interest Rate

Amount 1 Year ( 8% ) 2 Year ( 8.5% ) 3 Year ( 9% ) 4 Year ( 9.5% ) 5 Year ( 10% )
50 18793 39342 62192 87866 117123
100 37598 78735 124384 175733 234247
200 75197 157470 248768 351466 468494
300 112706 236205 373152 527194 702741
500 187993 323675 621920 878666 1171235
1000 375987 787350 1243840 1757333 2342471

Terms & conditions:-

  • Minimum deposit Rs. 100/- and in multiple of Rs. 100/-
  • Loan on this deposit will be till 90% with 3 % additional interest on daily deposit scheme.
  • Deposit withdrawal can be done only after 6 months.
  • Premature interest will be 2% lower than the prevailing interest rate for the period of deposit at the time of making the Deposit.
  • There will be charges of 2% per day for irregular accounts.