TERM DEPOSIT
DOUBLE BENEFIT DEPOSITS
eligibility
Double Benefit Deposits provide a higher yield on the principal at the end of the stipulated period as the interest is compounded on quarterly basis; but, the principal and the accrued interest is paid only at the end of the period for which the deposit is placed with the Bank and not monthly or half-yearly as in the case of other types of deposits. This scheme is useful for short term and medium term investment ordinarily ranging from 12 months to 120 months.
KYC (Know Your Customer) Norms for opening account are applicable for these accounts also hence proof of residence and proof of identification will be required along with recent photograph of the depositor/s
WHO CAN APPLY
The accounts may be opened in the names of :
  • Individual - Single Accounts
  • Minors
  • Government and Quasi-Government Bodies
  • Two or more individuals - Joint Accounts
  • Limited Companies
  • Panchayats
  • Sole Proprietory Concerns
  • Associations, Clubs, Societies, etc.
  • Religious Institutions
  • Partnership Firms
  • Trusts
  • Educational Institutions (including Universities)
PERIOD AND AMOUNT OF DEPOSIT

Deposits under Double Benefit Deposit Scheme are accepted for a fixed period from six months upto a maximum period of 120 months. These deposits, on maturity are repayable with interest compounded on quarterly basis. These deposits may be accepted even for periods where the terminal quarter/half year is incomplete.

MINIMUM AMOUNT OF DEPOSIT
  • Minimum amount that may be accepted for the scheme shall be Rs.10,000/-in Metro and Urban Branches and Rs.5000/- at Rural and Semi urban Branches For senior citezens the min amount is Rs5000/-
  • Minimum Amount criteria will not be applicable to Subsidy kept under GOVT Sponsored Schemes, Margin Money, earnest money and court attached/ordered deposits Payment of Interest
  • Interest will be paid at the time of maturity along with principal with quarterly compounding.(The payment/credit of interest in the account will be subject to TDS as applicable)PAN number is essential for those accounts where TDS is deducted.
  • Payment and Renewal of Deposits Before Maturity
  • Illiterate Persons
  • Depositors may request repayment of their deposits before maturity. Repayment of term deposits before maturity is permissible in terms of the directives of the Reserve Bank of India issued from time to time. In terms of the directives, the provision regarding premature withdrawal of deposits is as follows
PENALTY

Penalty on premature withdrawal of deposits

S.No Effective Date Amount of Deposits Remarks
1 14/06/2022 Penalty on premature withdrawal of deposits Penalty waived
2 08/06/2022 All fresh and renewed Domestic Rupee Term deposits for Rs. 25 Lacs and above. Penalty waived
3 14/06/2022 All fresh and renewed Domestic Rupee Term deposits Penalty waived
4 05/06/2022 All Domestic Rupee Term Deposits of Rs.1 Cr & above received / renewed on or after 27.06.2011. Penalty imposed
5 21/06/2022 All fresh and renewed deposits Domestic Rupee Term Deposits Penalty waived

We provide loans to meet various Personal requirements of customers and their family. Bank offers loans for marriage expenses, medical expenses, educational expenses, purchase of consumer durables etc.

HOW TO APPLY FOR A PERSONAL LOAN ONLINE?
video
btn-video
A Personal Loan is provided by the banks based on criteria like employment history, repayment capacity, income level, profession and credit history.
It is a multi-purpose loan which can be used to meet any immediate needs of the customer. Like any other loan, for a Personal Loan the customers are advanced a specific amount of funds on a set interest rate which can be cleared via a fixed repayment tenure.
We provide loans to meet various Personal requirements of customers and their family. Bank offers loans for marriage expenses, medical expenses, educational expenses, purchase of consumer durables etc.
STEPS TO FOLLOW
1. CHECK ELIGIBILITY

Select the Loan amount and tenure to calculate as per your requirement.

2. SUBMIT APPLICATION

Fill in the online form and attach required documents with the application.

3. CHECK APPROVAL STATUS

Personal Loan for approved application will be disbursed in your Savings Account.

Step1
Step1
Step1
1. CHECK ELIGIBILITY

Select the Loan amount and tenure to calculate as per your requirement.

2. SUBMIT APPLICATION

Fill in the online form and attach required documents with the application.

3. CHECK APPROVAL STATUS

Personal Loan for approved application will be disbursed in your Savings Account.

STILL HAVE QUESTIONS?

StarBot your personal assistant is here to help you out
with all your queries.

Downloadable documents for the loan application to be submitted by the applicant.

Application cum proposal form
(To be filled by the Applicant)
download
Annexure to application
(To be filled by the Guarantor)
download
Documents required
(To be submitted by the Applicant)
download
Annexure 3
(To be submitted by the Applicant)
download
Verification form
(To be submitted by the Applicant)
download
Documents required 2
(To be submitted by the Applicant)
download

General questions and answers on personal loan.

How can I prepay my personal loan as I am unable to visit branch?

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.
Can I prepay my personal loan as I am unable to visit branch?

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.
Can I foreclose or prepay my personal loan?

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.
How do I repay the personal loan?

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.
What is the procedure to prepay my personal loan?

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.
How do I repay the personal loan?

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.

In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment.

The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.
Show more
OTHER

DEPOSITS