SLNCB - CUMULATIVE DEPOSITS

CUMULATIVE FIXED DEPOSITS
Payment of fixed amount for a fixed period. Interest is accumulated quarterly and customer gets compounded interest together with principle on the due date. Minimum amount is Rs. 100/- Minimum period of 1 year and maximum of 10 years. Interest is automatically ploughed back in to the deposit on quarterly basis. This helps depositor to earn interest on interest. Loan can be granted up to 85% of the deposit amount against pledge of above Certificates. Form 15G/H Should be Submitted in the month of april of every financial year without fail. Copy of PAN Card should be Submitted by the depositors.

DEPOSITS RATE OF INTEREST

• 1. From 30 days to 90 days - 5.00%
• 2. From 91 days to 180 days - 5.00%
• 3. From 181 days to 365 days 6.00%
• 4. Above 1 Year to 2 Year - 8.00%
• 5. From 2 Year to 3 Year - 7.50%
• 6. Above 3years - 7.50%
• Extra 0.5% For Senior Citizens