Aravali Deposit Scheme
This is a reinvestment plan and has been designed to facilitate maximum return to the depositors by way of reinvesting the amount of interest earned at the same rates at which the deposit was initially accepted.| Eligibility | Individuals Singly/Jointly, Firms, Corporate bodies, Associations etc. can open the account under the scheme. |
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| Amount | Minimum Rs. 1000/- in Rural and Semi Urban branches. Minimum Rs. 2000/- in Urban and Metro branches. Additional amount in multiples of Rs. 100/- |
| Period | Any number of days with a minimum period of 6 months & maximum of 10 Years. |
| Interest | Applicable as per term deposits rates table & compounded on quarterly basis. Maturity value is payable on contracted due dates. |
| Tax Deduction at Source | Applicable |
| Nomination | Accepted |
| Transferability Option | Deposit can be transferred from one branch to another branch of the Bank at any other city. |
| Other facilities | Loan or overdraft against the deposit is available. Premature payment is permissible. |
