The Karnavati Co-op Bank Ltd.

Deposits

Fixed deposit scheme is an attractive scheme to deposit savings for fixed period of 7 days to 5 years.
We provide attractive Interest Rates to our Customers.
We offer nomination facility for all types of deposit accounts.
We provide monthly/quarterly/half yearly/yearly interest payment to our customers in their existing Fixed deposits as per their instructions including remittance by RTGS/NEFT to the account maintained with other bank.
The maturity date of Loan and Overdraft Account against Fix Deposit is maturity date of Fixed Deposit Receipt.
TDS on Interest income will be deducted as per Income Tax Act.

TIME PERIOD	RATE OF INT.
7 DAYS TO 30 DAYS	3.75%
31 DAYS TO 90 DAYS	4.00%
91 DAYS TO 180 DAYS	5.00%
181 DAYS TO 364 DAYS	6.00%
1 YEAR TO 2 YEARS	7.25%
2 YEARS TO 3 YEARS (Higher interest payer Bank )	7.50%
3 YEAR TO 5 YEARS	7.00%
555 DAYS	8.25%
Note:
1. Senior Citizen (60 years or above) 0.50% More than above mentioned FD rates.
2. For Super Senior Citizen (75 years or above) 0.75% more than above mentioned FD rates.
3. Single FD of Rs.15,00,000/- or above 0.50% more than above mentioned FD rates.
Out of above mentioned three benefit only one benefit is to be given at a point of time.

Depositor has to fulfill KYC norms as per RBI directives.
Customer can Open Fixed Deposit A/c with minimum of Rs.500/-.
Guardian can open Minor’s Fixed deposit A/c. When minor turn major then at maturity date he/she can withdraw the amount with his/her signature, after providing valid age proof.
In the case of premature payment of deposit it will be observed for what period the deposit has actually run with the bank. The interest Rate applicable on the date of deposit for the actual period or the rate of interest prevailing on the date for that period, whichever is less, less 1% will be payable on that deposit. Further the interest rate payable will be a simple interest rate.
The maturity amount is payable on maturity date. If depositor do not renew the deposit on due date or within 14 days of its maturity, the deposit will not be renewed with retrospective date and only savings bank interest rate will be payable on that deposit for the lapsed period and the fresh deposit will be issued on the day customer approaches the Branch or payment will be given to the customer if he wants to encash the deposit.
All rights reserved with the Bank’s management to Change the Interest Rate of the Fixed Deposit Scheme without prior notice. The changed rate of interest shall be notified on bank’s notice board.
The Bank has all rights of appropriation, set off, lien and change the rules and regulations for the scheme.

Requirements to Open Fixed Deposit Account :

(as per recurring deposit account)

The proceeds of FDR and its interest payment(monthly,quarterly,half yearly or yearly)can be obtained by the client to the credit of his/her account maintained with other bank on the same day by RTGs/NEFT.

Valid Photo I.D. & Address Proof

Any one of proof (Photo Proof)

Address proof.

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Fixed Deposit