NEW
FIXED DEPOSIT SCHEME “PGB MAHA BACHAT”
Eligibility:
Any person
including a minor, single or jointly with another, proprietorship/ partnership
firm, HUF, association, company, corporate body, public/ commercial
organization, municipality, panchayat, Government and Quasi-Government body,
society, trust, religious, charitable and educational institution can open
account under the scheme.
Amount
of Deposits
: Minimum – Rs. 25000/-
: Maximum
– less than Rs.5.00 crore
: In
multiples of Rs.10000/-
Period
: 1 year to 3 years
Rate
of interest
: 1 year
to less than 2 years – 9.50% p.a.
: 2 years to less than 3 years – 9.25% p.a.
: 3 years – 9.00% p.a.
(compounded
quarterly)
Additional
0.25% interest rate shall be payable to Senior Citizens. For Hon’ ably retired
ex-staff members who are also senior citizens, MAXIMUM 1% additional rate of
interest (including senior citizen rate of interest) would be payable over and
above the normal rates under the scheme. For existing staff members 1%
additional rate of interest shall be payable over and above the normal rates
under the scheme.
Lock
in period: One
year
Loan/
Overdraft: As
applicable in our other term deposit schemes.
Period
of scheme:
01.02.2007 to 31.05.2007
Renewal:
The renewal shall be allowed after the maturity of the term deposit, on card
rates prevailing on the date of maturity of the term deposit, for the tenor
opted by t he customer, as per extant guidelines.
Pre-mature
payment:
Pre-mature payment/ withdrawal can be made after the initial lock-in period of
one year. However, the interest rate payable shall be as applicable as per
the period of the fixed deposit has actually run under the scheme.
Nomination:
Available as per extant guidelines of the bank.
Payment/
collection of the FDR at the branch other than the issuing Branch:
The FDR shall be collectable at par at all branches on maturity. Further, the
FDR can be transferred from one branch to another branch at any point of time.