Introduction

The scheme is a combination of multi-benefit deposit scheme and overdraft account.  Under this scheme, a depositor get simultaneous overdraft facility against his fixed deposit and cheque book is given on the same day.  

Deposit Amount

Any amount with minimum of Rs.1000/-

Period of Deposit

6 months to 120 months.  

Interest

The rate of interest is as applicable to Term Deposits & compounded quarterly and is payable on maturity.

Overdraft Facility

Simultaneously OD facility to the extent of 75% to 95% depending upon maturity period of deposit.  Interest 1% over the deposit rate will be charged on the overdraft amount.