|
Type of Account
|
Resident Savings Account |
|
Eligibility |
Residents above 18 years of age |
|
Mode of holding A/c |
Singly / Jointly / Jointly with survivorship benefits |
|
Rate of interest and frequency |
Applicable as per latest deposit rate and daily basis |
|
Auto-sweep facility
|
Yes available. |
|
Core Deposit /Threshold Deposit |
`Rs 50,000.00 |
|
Minimum Balance |
Quarterly average balance of Rs 25,000.00 |
|
Initial FD amount |
Minimum Rs 5000.00 and thereafter in multiples of Rs 5000.00 |
|
Sweep out procedure |
Amount will be sweeped out to FD in a unit of ` 5000.00 and multiple thereon |
|
Sweep out periodicity (From SB to FD account) |
Daily. |
|
Min Deposit period
|
46 days |
|
Max Deposit Period |
179 days. FD will be auto renewed on maturity and interest credited to the linked Saving account. |
|
Rate of Interest on Fixed Deposit |
Rate of Interest on Fixed Deposit as applicable to the relevant deposit period. |
|
Sweep-in |
Daily in multiple of Rs 5000.00 |
|
Sweep-in Method
|
LIFO (LAST IN FIRST OUT) |
|
Facilities / privileges available |
All other charges as per prevailing rules. |
|
Penalties |
Premature encashment of Fixed Deposit: Penalty as per the prevailing rules. |
|
Loan Facility
|
No |
