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THE BHUJ MERCANTILE
CO-OP BANK LTD.

ATTRACTIVE DEPOSIT RATES IN CURRENT BUSINESS SCENARIO W.E.F. 01-09-2020

 

 

Type Of Deposit Period Of Deposit General Public Staff / Senior Citizen 60+
Term Deposit (I) From 45 Days to 45 Days 4.50% 5.00%
Term Deposit (II) From 46 Days to 100 Days 5.00% 5.50%
Term Deposit (IIII) From 101 Days to 332 Days 6.00% 6.50%
Term Deposit (IIIII) From 333 Days to 1 Year 7.25% 7.75%
Term Deposit (IIIIII) From 1 Year to 5 Years 6.50% 7.00%

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

125 Months 117 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 1 Year to 5 Years (6 Monthly)

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

 

Auto_Renewal Instruction With Effective From 01-12-2018 :

  • Auto Renew with Mature amount
  • Auto Renew with Principal amount

 

The Following Term Deposit Type Code Auto Renewal Facility Covered The Following Term Deposit Type Code Auto Renewal Facility Not Covered
(1) 502- TD Simple (1) Recurring Deposit (RD)
(2) 503- TD Quaterly (2) TDs of Non- Individuals
(3) 505 - TD Accumulative (3) TDs >= Rs. 100 Lakhs
(4) 509 - TD Monthly (Min 333 Days period ) -

 

Terms & Conditions :

  • Bank will pay 03.00% p.a. ROI in Savings Deposits (SDs).

  • Single TDs >= Rs. 15 Lakhs (only for General Public) will earn Additional interest of 0.50% p.a., on Term Deposit (TDs) except Double Deposits.

  • For Staff/Senior Citizen (60+ Years), additional interest will be paid provided that his / her name must be First Name.

  • Bank can charge 1% Penal Interest in case of Pre-maturity of the deposits.

  • Notwithstanding anything mentioned above, Bank can pay a Maximum of 7.75% p.a. ROI inclusive of all. Further, Bank will not pay any interest on Deposits upto 44 days (as per Slabs above) except in those specifically mentioned conditions for SDs / Savings Unicorn Deposits / Matures Deposits

  • 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 01/09/2020 Tuesday

     

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