Certificate of Deposits
Scheme for deploying surplus funds at market driven rates of interest.
| Eligibility |
All individuals Singly/Jointly, Firms, Corporate bodies, Associations etc.
Non-resident Indian may also subscribe only on re-partriable, and non-transferable basis in the secondary market |
| Amount |
Min. Rs. 5.00 lacs & further in multiples of Rs. 1.00 lacs. Issued at discounted price. |
| Period |
3 months to 12 months |
| Interest |
Mutually agreed rates of interest. |
| Tax Deduction at Source |
Not Applicable |
| Transferability Option |
Tranferable by endorsement & delivery after 15 days of issue. |
| Other facilities |
Loan / premature payment is not allowed. Stamp duty borne by the bank. |
