| NO. | Item | Description |
|---|---|---|
| 1 |
Type of Account |
Resident Savings Account |
| 2 |
Eligibility |
Residents above 18 years of age |
| 3 |
Mode of holding A/c |
Singly / Jointly / Jointly with survivorship benefits |
| 4 |
Rate of interest and frequency |
Applicable as per latest deposit rate and daily basis |
| 5 |
Auto-sweep facility |
Yes available. |
| 6 |
Core Deposit /Threshold Deposit |
`Rs 50,000.00 |
| 7 |
Minimum Balance |
Quarterly average balance of Rs 25,000.00 |
| 8 |
Initial FD amount |
Minimum Rs 5000.00 and thereafter in multiples of Rs 5000.00 |
| 9 |
Sweep out procedure |
Amount will be sweeped out to FD in a unit of ` 5000.00 and multiple thereon |
| 10 |
Sweep out periodicity (From SB to FD account) |
Daily. |
| 11 |
Min Deposit period |
46 days |
| 12 |
Max Deposit Period |
1 year. FD will be auto renewed on maturity and interest credited to the linked SB account. |
| 13 |
Rate of Interest on Fixed Deposit |
Rate of Interest on Fixed Deposit as applicable to the relevant deposit period. Additional interest rate benefit to Senior citizen @ 0.50% on fixed deposit. No additional benefit to Staff/Ex-staff and Senior Citizen On sweep-in: units will attract interest rate applicable to deposit period |
| 14 |
Sweep-in |
Daily in multiple of Rs 5000.00 |
| 15 |
Sweep-in Method |
LIFO (LAST IN FIRST OUT) |
