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NEW circular cent non callable 999 & 555 days

Key features of Non-Callable time deposit for 555 /999 days.

No Features Description
1 Name of the Product Cent Non- Callable for 555/999 days.
2 Type of Deposit FDR/MMDC/QIDR/MIDR
3 Tenor and rate of interest on Term Deposit 

Period (days)

Rate of Interest
555 6.00%
999 6.50%

*The rate of interest will be change from time to time as per ALCO direction.

4 Deposit Amount

Minimum –Above Rs.15 Lacs.
Maximum –Up to  Rs. 10 Cr.

5 Additional Rate of Interest

The deposits under the Non –Callable Scheme will attract additional rate of  interest as below-
Senior Citizen-0.50 %                    Super Senior Citizen- 1 %
Staff  - 1%                                      Senior Citizen Staff –1.50%
Ex-staff Super Senior Citizen – 2%

6 Premature Withdrawal Premature withdrawal is allowed. However it attract penalty of 2.50 % on the applicable rate of interest for the running period of the deposit.                                
7 Demand loan/Overdraft facility

Loan/Overdraft facility would be available up to 90% of deposit amount.
Interest rate would be 1.00 % p.a. above the applicable Term Deposit interest rate.

8 Maturity Value While accepting the deposit maturity instructions should be taken to transfer proceeds to linked Saving/Current account.
9 Account Opening Mode The product will be opened through Online/Offline mode. The customer has to visit Cent Net Banking /Cent Mobile to open deposit online, If the customers do not have online banking facility, they can get it activated by visiting the Branch.

*For more details contact to nearest Branch.