icon_notification notification-animation 10

Want us to help you with anything?
Request a Call back

This field is required Only alphabetes are allowed
This field is required Only alphabetes are allowed
Please enter valid number
Please enter valid email
Please select product type
Please enter valid pincode

Thank you for your request.

Your reference number is CRM

Our executive will contact you shortly


It can be opened by resident individuals, singly or jointly.

Amount of deposit

The minimum deposit amount will be Rs.1 lakh and thereafter in multiples of Rs.25,000.

Duration of Deposit

  • This deposit will be opened for a period/tenure which will consist of an Investment phase and Payout phase (also called Benefit phase).
  • The Investment phase will be for a minimum period of 24 months and in multiples of 1 month thereafter.
  • The Payout (repayment) phase will be for a minimum period of 24 months and in multiples of 12 months there after.
  • Deposit tenure is the combination of Investment phase and Payout phase. Once specified by the depositor, it cannot be changed.

Investment Phase

During the Investment phase, customer would open a cumulative Fixed deposit

Payout Phase

  • On completion of the Investment deposit phase, 30% of the entire maturity proceeds (FD amount + interest), as applicable, shall be paid upfront on completion of the Investment phase and balance amount shall be reinvested in an FD with monthly Payout option for the Payout period..
  • Monthly Payouts will be credited to the Savings Account of the customer.

Here is an example that will explain how it works:


Investment Phase Payout Phase
Installment Amount Tenure Rate of Interest Total Corpus Lump-Sum Payment Tenure Monthly Payout
100000 24 months 5.35% 110,093 33028 24 months 3,393
200000 24 months 5.35% 220,186 66056 24 months 6,786


Disclaimer: The numbers and data used for the above calculation are for illustrative purposes only, original numbers may vary.

  • The Deposit will earn prevailing fixed interest rates for the entire deposit period, i.e. same rate of interest in Investment phase and Payout phase. In case the rate of interest increases or decreases, the deposit will continue to earn the contracted rate of interest on both the Investment phase and the Payout phase.
  • The rate of interest will be applicable as per the total tenure, including both Investment phase and Payout phase. E.g. If the total tenure of the deposit is 8 years bifurcated into 4 years Investment phase and 4 years Payout phase, the rate of interest applicable for the deposit in Investment phase as well as Payout phase will be the same as applicable for 8 years at the time of deposit opening as the customer has entered in contract for 8 years.
  • Interest earned on the Deposit during tenure will be subject to Tax Deducted at Source (TDS).
  • Partial withdrawal will not be permitted in both the phases.
  • Premature closure will be permitted during both Investment phase as well as Payout phase by deducting the applicable penalty.

It will not be possible to convert any existing FD/RD with the Bank to this product.