Certificate of Deposits

Scheme for deploying surplus funds at market driven rates of interest.

Eligibility	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
Amount	Min. Rs. 5.00 lacs & further in multiples of Rs. 1.00 lacs. Issued at discounted price.
Period	3 months to 12 months
Interest	Mutually agreed rates of interest.
Tax Deduction at Source	Not Applicable
Transferability Option	Tranferable by endorsement & delivery after 15 days of issue.
Other facilities	Loan / premature payment is not allowed. Stamp duty borne by the bank.

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