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WE OFFER SOMETHING MORE
WITH OUR SAVINGS PLUS
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You
can earn more on your Savings with us by opting for automatic
sweep from your Savings Plus Account to Term Deposit.
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All you need to decide is
the maximum Balance (threshold balance) you want to maintain in
your Savings Plus account on any given day and the period for the
Term Deposit Account i.e. 12, 24 or 36 months.
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On 10th of every month. The system
automatically transfers the amount over and above the threshold
balance to a Term Deposit.
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Your
Savings Bank Account earns the prescribed Savings Bank interest
and the Term Deposit earns the interest as applicable to the term
of the deposit.
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In case you are to draw more than the threshold balance
by partially breaking your TDR, you may do so by simply issuing
your cheque on your Savings Plus Account. The required amount will
be automatically swept from your Term Deposit.
IT’S
SAVINGS ALL THE WAY.
| Product |
SAVINGS
PLUS |
| Type
of Account |
Savings
Bank Account + MODS |
| Eligibility
|
All individuals
|
| Segment |
Personal
Segment |
| Availability
of the Scheme |
At
all our Branches |
| Amount
Of Deposit |
Rs.5000/-
balance always in SB+ Account |
| Style
Of Account |
For
Individuals – Singly or Jointly payable to
‘E
OR S’, ‘F OR S’, ‘L OR S’ OR Payable Jointly |
| Period
of Deposit
|
1 Year to 5
Years.
|
| Other
Specifications |
- Specify the threshold
balance to be always maintained in SB+
- Specify the Term of the
Deposit.( 12,24,36 months)
For issue of the Deposit.
- The
frequency of such transfer (dates etc)
|
| Other
Options |
You can
change any of the options given by you at any time
i.e.
Threshold Balance, Term of Deposit or Both. |
| Rate
of Interest
|
As
applicable to the term of the Deposit.
|
| Nomination |
Nomination
facility is available for all Accounts |
| Advantages |
You can
draw funds from MODS Account into your SB+ Account by simply
issuing a cheque
The
amount gets credited with applicable interest
(without penalty), the rest of the amount continues as
Term Deposit |
| Tax
Deduction At Source |
TDS
is applicable as per IT Rules. |
| Service
Charge |
Service
charge is applicable if the Min. balance in SB+ Account falls
below Rs.5000/-. |
Click here
for account opening form
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