Certificate of Deposits
Scheme for deploying surplus funds at market driven rates of interest.
||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
||Min. Rs. 5.00 lacs & further in multiples of Rs. 1.00 lacs. Issued at discounted price.
||3 months to 12 months
||Mutually agreed rates of interest.
|Tax Deduction at Source
||Tranferable by endorsement & delivery after 15 days of issue.
||Loan / premature payment is not allowed. Stamp duty borne by the bank.