Nidhi Sanchay Yojana
(Automatic renewal scheme) Suitable for depositors to park deposits for short term matuirities (presently, as minimum as 15 days) and convnience of automatic renewal (on due dates). The depositor is not required to visit the bank time and again for renewal since the deposit renewed automatically in the cycle of 15 days alongwith interest.
|Eligibility||Individuals Singly/Jointly, Firms, Corporate bodies, Associations etc. can open the account under the scheme.|
|Amount||Minimum Rs. 1,000/- & multiples of Rs. 1000/-|
|Interest||Applicable as per term deposits rates table.|
|Tax Deduction at Source||Applicable|
|Transferability Option||Available within Bank's Branches|
|Other facilities||Loan or overdraft against the deposit is available. Premature payment is permissible.|