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Mini Deposit
Banking
Mini Deposit
Mini Deposit
To encourage the habit of savings in small and medium business owners, bank facilitates them to open mini deposit accounts. These accounts can be opened with a minimum deposit of rupees 10 per day. In this scheme, the business owners can deposit amounts into their accounts without the need of visiting bank branch. To facilitate this, bank provides door to door collection of deposits by the support of its registered agents. By availing this facility, the businessman may save considerable amount of his time.
Key Features
Deposit is collected from your doorstep on a daily basis by the bank’s authorized agent
Minimum deposit amount is Rs. 10/- or multiples thereof
Flexible tenure with minimum period of 12 months and maximum up to 60 months.
Nomination facility
Loans or Overdraft facility available against deposit up to 85%
Deposit insured by DICGC Scheme
Premature withdrawal allowed with term and conditions
Requirements
KYC Documents as per RBI guidelines
Eligibility
Individuals ( businessmen, professionals, wage earners, traders etc )
ROI
Rate Of Interest 3%
Note: For more detailed information, terms and conditions, kindly contact your nearest branch.