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Home >> Deposit Products >> Synd Corporate Suvidha Deposit Scheme
 
Synd Corporate Suvidha Deposit Scheme
 

Synd Corporate Suvidha Deposit Scheme

We have pleasure in informing launching of a new deposit scheme namely “ Synd Corporate Suvidha Deposit Scheme” .

The sailent features of the scheme are as follows :

  • Amount of deposit : The minimum quantum of deposit under the scheme is fixed at Rs.500 lacs and thereafter in multiples of Rs.100 lac.


  • Period of deposit : 7 days to 180 days.


  • Rate of interest : As applicable to other domestic term deposits. No special or extra rate can be offered.


  • Payment of interest : Simple interest is payable at quarterly intervals at the contracted rate.


  • Premature refunds :


  • Premature withdrawal in multiple of Rs.100 lac permitted subject to one day notice. However minimum balances of Rs.5 crores should be retained after such partial withdrawal.


  • There is no restriction regarding frequency and number of withdrawals.


  • No penalty is to be charged on partial withdrawals . Interest payable on such portion shall be the interest applicable at the time of accepting the deposit for the period the amount remained with the Bank.


  • Loans on Deposit : LD can be arranged only on the balance amount held with the Bank and under no circumstances withdrawals beyond the margin stipulated for the LD, shall be permitted.
 
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