Short Term (Under 12 months)
Ideal for those considering a transitory deposit during their business ventures. The extremely short period of one year also helps in fast liquidity in addition
to a good rate of interest.
Click here for terms and conditions.
- Ideal for all transitory savings.
- High liquidity with good returns.
- Avail of Overdraft / loan against deposit up to 95% of the deposit amount without the hassles of a guarantor or processing fee or, filling of any forms etc.
- Ideal for meeting short-term commitments as these advances are also available for a single day and till a maximum of 12 months.
- Interest will be charged at 1.50% over the deposit rate with monthly rests in case of depositor being the borrower and higher in case your friends want to avail of the loan.
- On pre-matured withdrawal of your deposits amount, interest will be calculated at 1% below the rate applicable for the period of deposits.
- The Government accepts this deposit as a Security.
- Can be used as margin money for Non-fund based facilities.
- Provision for nomination.
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