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This is a term deposit
product. The term is from 1 month to 5 years and the profit is paid on monthly basis.
The minimum amount of deposit is Rs.100,000/-. The rate of profit is from 6.0 %
p.a. to 10.50 % p.a. depending on the tenure which is higher than Bank’s normal
term deposits as follows:
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Term
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*Expected Profit Rates p.a.
|
Minimum amount
of Deposit Rs.
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Profit payment on monthly basis (With Holding Tax to be deducted)
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1 month
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6.00 %
|
100,000/-
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Rs.500
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3 months
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7.00 %
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100,000/-
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Rs.583
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6 months
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8.00 %
|
100,000/-
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Rs.667
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1 year
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9.75 %
|
100,000/-
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Rs.813
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2 years
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10.00 %
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100,000/-
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Rs.833
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3 years
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10.25 %
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100,000/-
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Rs.854
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4 years
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10.40 %
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100,000/-
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Rs.867
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5 years
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10.50 %
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100,000/-
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Rs.875
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* This product is governed under PLS rule i.e. the rates mentioned are expected
and the Bank reserves the right to revise the rates and terms & conditions of
profit under Profit & Loss sharing system.
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