|
No |
Features |
Description |
|
|
1 |
Name of the Product |
Cent Floating Deposit Scheme. |
|
|
2 |
Type of Deposit |
MIDR/QIDR /MMDC |
|
|
3 |
Period of Deposit
|
1 year to less than 2 year and 2 year to less than 3 years |
|
|
4 |
Deposit Amount |
Minimum deposit under this scheme will be Rs.1,00,000 and Maximum –less than Rs. 2 Cr. |
|
|
5 |
Additional Rate of Interest to Senior Citizen/staff/ex- staff |
Additional interest of 0.50% to Senior Citizens, 1% to staff /ex staff members and 1.50% will be paid to senior citizen staff. |
|
|
6 |
Maturity Value |
Since the interest rate is floating and is not pre decided as in the case of normal fixed deposit, maturity value cannot be determined in the deposit. |
|
|
7 |
Renewal |
At the time of maturity the customers can give option to renew the deposit under cent floating deposit at the time of maturity if scheme is live otherwise deposit will be renewed under normal rate of interest for one year only. |
|
|
8 |
Rate of Interest (Floating) |
Present Repo+ *Markup Rate (*The rate of interest will be change from time to time as per ALCO direction.) |
|
|
9 |
Account Opening |
The product will be opened through digital mode (Cent Net banking/Cent Mobile) only
|
|
|
10 |
Other terms and conditions |
All other existing terms conditions applicable to time Deposit will continue. |
|
**For more details contact to nearest Branch.