Savings Account

  • We offer a competitive interest rate of 3.00% on Savings Account deposits. A Savings Account allows customers to keep their money secure while earning interest, with easy access to funds when needed.
  • Customers can open a Savings Account with a minimum balance of Rs. 1000/-. You can open either a single or joint account with flexible operating instructions such as "Any one," "Jointly," "Any two Jointly," or "Either or Survivor."
Savings Account
  • Interest is calculated on a daily basis, based on the credit balance at the end of the day, and interest is credited half-yearly. The interest rate may vary based on directives from the Reserve Bank of India (RBI) issued from time to time.

Requirements to Open a Savings Bank Account

To open a Savings Bank Account, you need to fulfill the KYC norms as per RBI guidelines. The customer is required to provide the following valid proofs:

  • Valid Photo I.D. & Address Proof (Any one of the following for Photo I.D.):
    • Aadhar Card
    • Passport
    • Voter ID Card
    • Driving License
  • Address Proof (Any one):
    • Electricity Bill (not more than 2 months old)
    • Municipal Tax Bill
  • Other Required Documents:
    • Latest Passport Size Photograph – 3 Copies
    • Pan Card
    • Birth Certificate for minor accounts
    • Introduction from an Existing Account Holder

Important Notes

  • Every depositor must fulfill KYC norms as per RBI directives.
  • The interest rate on Savings accounts is subject to changes as per RBI guidelines.
  • Minimum balance required to open a savings account: Rs. 1000/-

General Information

  • Customer can open a Current Account with a minimum balance of Rs. 3000/-.
  • We are a member of the Deposit Insurance and Credit Guarantee Scheme [DICGC], ensuring customer deposits up to Rs. 5 Lakh.
  • All depositors must fulfill KYC norms as per RBI directives.
Current Account Information
  • The customer must provide all valid proof at the time of opening an account under KYC norms as per RBI guidelines.
  • The Bank's management has the right to close the account after notice if the account holder does not maintain sufficient balance to clear inward cheques or ECS.
  • Cheque book charges will be debited from the account at the time of issue.
  • No interest is paid in the Current Account.

Fixed Deposit

A fixed deposit is meant for those investors who want to deposit a lump sum of money for a fixed period; say for a minimum period of 15 days to ten years, thereby earning a higher rate of interest in return. Investor gets a lump sum (principal + interest) at the maturity of the deposit.

Banks' fixed deposit scheme is one of the most common savings schemes for an average investor. Fixed deposit also gives a higher rate of interest than a savings bank account.

  • Overdraft (loan) facility on the amount deposited.
  • Premature withdrawal before the maturity period (which involves a loss of interest).
  • Bank deposits are fairly safer because banks are under the control of the Reserve Bank of India.
Fixed Deposit

Why Fixed Deposit with Us?

Our Bank offers you simple Fixed Deposits at very competitive interest rates. You can deposit money of more than Rs. 5000/- for 365 days and above. In Fixed Deposit, you can transfer your interest to your existing account (Savings) quarterly.

Bank deposits are the safest investment after Post Office savings because all bank deposits are insured under the Deposit Insurance & Credit Guarantee Scheme of India. It is also possible to get a loan up to 85% of the deposit amount from banks against fixed deposit receipts. The interest charged will be 1.00% more than the rate of interest earned by the depositors.

TDS is applicable on interest above Rs. 10,000/-. For this purpose, banks have a policy to make nominal members so TDS is not applicable in certain cases.

Fixed Deposit Rate of Interest (W.E.F. 22/04/2025)

Sr No Term of Deposit For Deposits Below 3 crores For Deposits Rs.3 crores to & above
For Individual/ Local Authority/ Co-operative Societies/ Trust For Senior Citizen For Individual/ Local Authority/ Co-operative Societies/ Trust For Senior Citizen
1 15 - 45 days 3.50 3.50 3.50 3.50
2 46 - 90 days 4.75 4.75 4.75 4.75
3 91 - 179 days 5.00 5.00 5.00 5.00
4 180 - 364 days 5.75 5.75 5.75 5.75
5 1 Yr (365 days) 7.15 7.65 7.40 7.90
6 1 Yr < 2 Yr (365 - 729 days) 7.15 7.65 7.15 7.65
7 2 Yr < 3 Yr (730 - 1094 days) 7.10 7.60 7.10 7.60
8 3 Yr < 5 Yr (1095 - 1824 days) 7.00 7.50 7.00 7.50
9 5 Yr - 10 Yr 6.75 7.25 6.75 7.25

Other Matters:

  • Senior citizens (i.e., age 60 years or more) will continue to receive a 0.50% higher interest rate on deposits.
  • Staff members will continue to receive 1% additional interest on Fixed Deposits.
  • Each depositor in a bank is insured up to a maximum of Rs. 5 Lakh for both principal and interest amount under the Deposit Insurance & Credit Guarantee Scheme of India.

Recurring Deposit Rates

Recurring deposit rates are applicable as per term deposit rates. Please refer to the above table for further details.