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Home >> Deposit Products >> Social Security Deposit
 
Social Security Deposit
 

Social Security Deposit

An ideal monthly income plan - Nothing provides greater comfort and peace of mind than a guaranteed, regular income. This is particularly true of the aged and the pensioners who desire a monthly income through periodical investment of their accumulated savings. This periodical income can be utilised in several ways like gifting a part to near and dear ones, donating to noble causes etc.

Our Social Security Deposit is ideally designed to meet such needs. All you need to do is to invest a lumpsum amount for a fixed period that provides regular monthly interest for meeting various commitments during the period of the deposit.

Salient features of the scheme are:

  • Minimum amount of deposit is Rs.1000/-

  • Deposits accepted from 1 year to 10 years in completed quarters.

  • Option to earn interest either at discounted rates at the end of every calendar month or on quarterly basis during the period of the deposit.

  • Loan available upto 95% of the deposit amount depending on the length of the unexpired period of the deposit.

  • Senior Citizens & Staff will be eligible for additional Rate of interest as per applicable norms.
  • Nomination facility available.

  • Rate of interest are as fixed by the Bank from time to time.
 
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