Different types of term deposits in our Bank:

1. Ashalatha Fixed deposit
a. Minimum amount of Deposit Rs. 1000/- and maximum No limit.
b. Minimum period of deposit is 1 year and Maximum period is 10 Years.
c. Interest on the deposit money is reinvested at quarterly rests there by giving the depositor the benefit of Quarterly compound interest (cumulative)
c. Rate of interest depends on period of deposit.
2. Fixed deposits accepted for less than 12 months:
a. Minimum amount of deposit is Rs. 1000/-
b. These deposits accepted for number of days only i.e., 15 to 364 days.
c. Rate of interest payable at the rate applicable for the period of deposit.
3. Fixed deposits accepted for more than 12 months.
a. Minimum amount of deposit is Rs 1000/-.
b. These deposits accepted for a period of 1 year to 10 years.
c. Under this scheme interest is payable at different intervals.
c. These deposits are available as per the following
d. Interest payable Monthly/ Quarterly/ Half yearly/ Yearly.
c. In case of monthly interest, interest payable at discounted rate.
c. Rate of interest depends on period of deposit.
4. Dhanavrudhi Deposit:
a. Minimum amount of deposit is Rs. 1000/-
b. These deposits are accepted for a period of 46 days with auto renewal facility.
c. Rate of interest depends on period of deposit.
5. Dhana Lakshmi cash certificates:
a. Minimum period of these deposits is 1 year
b. These deposits are accepted in fractional amount for a fixed maturity amount i.e. Rs.10, 000/- , Rs. 50,000/-, Rs. 1, 00,000/- etc
c. Maximum period of Deposit is 10 years.
d. Rate of interest depends on period of deposit.