| Name of the Product |
CENT - 777 DEPOSIT SCHEME |
| Type of Deposit |
Term Deposit in nature with an option of interest payment at monthly/ quarterly/ half yearly intervals or cumulative type |
| Period of Deposit |
The Deposit will be accepted for a fixed period of 777 days. No deposit will be accepted under the scheme for a longer or shorter period. |
| Deposit Amount
|
Minimum - Rs.1,000/-
Maximum – Less than Rs.1 crore.
|
| Rate of Interest |
The deposits under the Scheme will attract interest at the rate of 6.50%. Additional interest for Senior Citizens & Staff as per existing norms. |
| Premature Withdrawal |
Though the deposit is accepted for a fixed period of 777 days, a customer may opt for premature withdrawal of deposit. However, the interest payable for such premature withdrawals will be as per our instruction circular no 1124, dated 27th April 2013. |