Raitha Nidhi Deposit

ELIGIBILITY	Individual, Joint, a Guardian on behalf of a minor, HUF, Partnership, a Company, Association or any other Institution
INVESTMENT	No ceiling Limit
PERIOD OF DEPOSIT	Minimum 3 months Maximum 120 months / 10 year (can be for odd period also)
INTEREST RATE	Depending upon the period of the deposit as prevailing from time to time. Interest compounded quarterly.
PERIODICITY OF INTEREST PAYMENT	On Maturity
SPECIAL INTEREST RATE FOR SENIOR CITIZEN and FOR WOMENS	Additional interest rate of 0.50%
TDS	As per Income Tax Rules
NOMINATION FACILITY	Available
LOAN FACILITY	Available up to 80% of the deposit amount
PREMATURE	The depositor can close the account prematurely. In such case interest will be paid at 1% less than the rate applicable for the period deposit remained with the bank. In the event of the death of the depositor while paying deposit prematurely, deducting 1% of interest will not be applicable.
AUTO RENEWAL OF DEPOSIT	As per customer requirement
APPLICATION & DOCUMENTS	Application in the Banks’ prescribed form. Copy of PAN Card Photograph of Depositor/s (2 copies). Proof of Identity and address as per KYC Norms. Any other related documents as applicable to proprietor ship concern, Partnership Firm, Company, HUF etc.