Sreenidhi Cash Certificate

Eligibility : Individuals (singly or jointly), Minor by guardian, Organizations, Co-op. Societies

Minimum Balance: Rs. 5000/- and further rise in multiples of Rs. 100/-

Rate Of Interest: { CURRENT INTEREST RATES }

Special Features/Facilities: TDS applicable Form 15H/15G required to be submitted for exemption of TDS. If you are exempt from paying tax, you need to present Form 15H when you open a Fixed Deposit and subsequently at the beginning of the following financial year.

Charges / Penalty: In case of payment before maturity Interest upto 30 days will be Nil Above 30 days : 1% less than applicable rate of Interest for the actual period for which deposit is kept with the Bank.( @ Simple Interest)

Account closure : As above, if payment is before maturity .

RATE OF INTEREST ON SREENIDHI CASH CERTIFICATE With effect from  12th December 2017 (BOD Resolution Dated 08/12/2017)

PERIOD

 Rate of Interest

31 Days to 90 Days

-

91 Days to 180 Days

-

181 Days to 1 Year

-

Above 1 Year to 2 Years

8.75%

Above 2 Years to 5  Years

9.00%

Above 5 years

8.50%

  • Minimum period is 13 months for Sreenidhi Cash Certificate & Recurring Deposits.
  • 0.50% extra for SENIOR CITIZENS (60 Years and above) for the deposits of One year and above.
  • 1%  extra for SUPER SENIOR CITIZENS (80 Years and above) for the deposits of One year and above.
  • 0.50% extra for BULK DEPOSITS of above Rs.1.00 Crore & above one year period
  • 1% extra for SENIOR CITIZEN’S BULK DEPOSITS of above Rs.1.00 Crore & above one year period.
  • 1.5% extra for SUPER SENIOR CITIZEN’S BULK DEPOSITS of above Rs.1.00 Crore & above one year period.