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THE BHUJ MERCANTILE
CO-OP BANK LTD.

ATTRACTIVE DEPOSIT RATES IN CURRENT BUSINESS SCENARIO W.E.F. 02-08-2021

 

 

Type Of Deposit Period Of Deposit General Public All Staff / Senior Citizen 60+
Term Deposit From 45 Days to 45 Days 4.50% 5.00%
Term Deposit From 46 Days to 100 Days 5.00% 5.50%
Term Deposit From 101 Days to 332 Days 5.25% 5.75%
Term Deposit From 333 Days to 730 Days 6.50% 7.00%
Term Deposit From 731 Days to 1095 Days 6.75% 7.25%
Term Deposit From 1096 Days to 1825 Days 6.25% 6.75%

Term Deposits (TDs) Double Deposit. (Min. Rs. 10,000/-, Max. FD/OD 70%)

131 Months 120 Months

Current Deposits Unicorn - for 45 days Only

(LIFO Method & Min. Deposit Rs. 25000/- and multiples thereof)

4.50% 4.50%

Savings Deposits Unicorn - From 7 Days to 44 Days

                                    - From 45 Days to 100 Days

(LIFO Method & Min. Deposit Rs. 10000/- and multiples thereof)

 3.00%

5.00%

3.00%

5.00%

Recurring Deposit (RDs) From 366 Days to 1825 Days (6 Monthly)

6.50% 6.50%
Monthly and Quarterly Interest on Fixed Deposit Scheme Minimum  333 Days Period

 

Terms & Conditions :

  • Bank will pay 03.00% p.a. ROI in Savings Deposits (SDs) on Quarterly Basis.
  • Single TDs >= Rs. 15 Lakhs (only for General Public) will earn Additional interest of 0.50% p.a., on TDs (except Double Deposits). For Staff/Senior Citizen (60+ Years), additional interest will be paid provided that his / her name must be First Name.
  • All New/Renewing TDs will be applied for Auto-Renewal on Maturity for the original tenure @ the interest rate prevailing on the date of maturity, except in cases where Maturity/Payment Instructions are given by the Depositor. In absence of Maturity Instructions, If a TDs matures and proceeds are unpaid, the amount left unclaimed with the Bank shall attract ROI of Savings A/c or the contracted ROI on the matured TDs, whichever is lower.
  • Bank can charge 1% Penal Interest in case of Pre-maturity of TDs @ ROI applicable to the amount and period for which the deposit remained with the bank.
  • However, No interest shall be paid, where premature withdrawal of deposits takes place before completion of the minimum period of 7 Days. Further, Bank will not pay any interest on Terms Deposits upto 44 days (as per Slabs above) except in SDs / Savings Unicorn Deposits / Matured Deposits).
  • Notwithstanding anything mentioned above, Bank can pay a Maximum of 7.25% p.a. ROI inclusive of all.
  • In cumulative interest deposits schemes, interest will be paid @ Quarterly rest.
  • TDS rules and 15G/15H rules as per prevailing Income Tax Act 1961 for individuals and Senior Citizens.
  • DICGC Insurance Cover for Deposits is Rs. 5,00,000/- w.e.f 04-Feb-2020.
  • Effective date of Interest Slabs and all above facilities will be from 02/08/2021 Monday.

 

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