Cash Certificate/Fixed Deposits are one of the most popular ways to save money. They are a safe investment, offer good returns, and are easy to open.
In a Cash Certificate, you put a lump sum in your bank for a fixed tenure at an agreed rate of interest. At the end of the tenure, you receive the amount you have invested plus compound interest. 

In a Fixed Deposit one can pick the mode of interest payment. There are mainly two types of modes of receiving the interest. One is cumulative option where the interest is compounded on a quarterly, paid on the maturity of the FD/ auto renewed. The other is a non-cumulative option which is paid in the form of monthly interest or quarterly.

In Fixed Deposit Monthly/Quarterly scheme Interest is paid on monthly and quarterly basis respectively. Ideal scheme for pensioner / retired / senior citizen. Interest is being credited to depositor's savings A/c with the bank.
 

A Recurring Deposit, commonly known as RD, is a product to provide a person with an opportunity to build up saving through regular monthly deposits of fixed sum over a period of time.A RD account holder can choose to invest a fixed amount each month while earning decent interest on the amount. RDs are an ideal saving-cum-investment instrument.

  • ​Please note all Term Deposit  products except Recurring Deposit (RD) are in auto renewal mode.

 

Period of Deposit Minimum 7 Days and maximum 10 years
Interest Payment Quarterly Interest - Credit to Account (After Maturity)
Maximum Amount of Deposit No Limit
Minimum Amount of Deposit Rs. 10,000/-
Pledging of Deposit Allowed
Premature Withdrawal Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Additional Interest Rate for Senior Citizen Applicable
Eligible Depositors All depositors

Period of Deposit Minimum 7 Days and maximum 10 years
Interest Payment Monthly Interest - Credit to Account
Maximum Amount of Deposit No Limit
Minimum Amount of Deposit Rs. 10,000/-
Pledging of Deposit Allowed
Premature Withdrawal Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Additional Interest Rate for Senior Citizen Applicable
Eligible Depositors All depositors

Period of Deposit Minimum 7 days and maximum 365 days
Interest Payment  Quarterly Interest - Credit to Account 
Maximum Amount of Deposit No Limit
Minimum Amount of Deposit Rs. 10,000/-
Pledging of Deposit Allowed
Premature Withdrawal Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Additional Interest Rate for Senior Citizen Applicable
Eligible Depositors All depositors

Period of Deposit Minimum 7 Days and maximum 10 years
Interest Payment After Maturity - Credit to Account
Maximum Amount of Deposit No Limit
Minimum Amount of Deposit Rs. 500/- PM
Pledging of Deposit Allowed
Premature Withdrawal Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Additional Interest Rate for Senior Citizen Applicable
Eligible Depositors All depositors