SDC BANK

Term Deposit Scheme

Term deposit scheme is an attractive scheme to deposit your savings for a fixed period as per your future requirements. The bank provides attractive interest rates to our customers from time to time. The bank offers 0.50% extra interest rate to senior citizens (age 60 or above) on fixed deposits of more than 1 year period and above. Guardian can open Minor's Fixed deposit A/c. When the minor turns major, they can operate the account after providing fresh KYC documents. Nomination facility for all deposit accounts is available. Interest is paid on a quarterly basis. Loan and Overdraft facility is available against Term deposit. TDS on interest income will be deducted as per Income Tax Act. Deposits are insured up to Rs.5 Lacs in DICGC Scheme.

Rules & Regulations:

In the case of premature withdrawal of deposit, it will be observed that what is the period the deposit remained with the bank, then the interest rate will be compared between the present/ existing rate and the rate at the time of deposit whichever is less will be applicable and 1% penalty will also be deducted from the interest rate and then the interest calculation will be done on the deposit amount and that interest amount will be payable to the customer.
All rights reserved to the Bank's management to change the interest rate of the Term Deposit Scheme without prior notice and change of interest rate will be applicable to new deposits and renewal of deposits.
The Bank is having rights of appropriation, lien, and set-off.
System automatically renews Fixed Deposit on maturity for the same period with present prevailing interest rates.

Documents Required for Fixed and Term Deposit:

Valid Photo I.D. & Address Proof of proprietor/partners/directors

(A) Any one proof for all partners/directors or proprietor (Photo Id): Passport, Driving License, Voter ID Card, Aadhar Card
(B) Address Proof (Any One): Electricity Bill (not more than 3 months old), BSNL Landline Telephone Bill (not more than 3 months old), Municipal Tax Bill
(C) Passport Size Photograph - 2 Copies
(D) PAN Card
(E) Birth Certificate for minor account
(F) Senior Citizens have to produce age proof to avail extra interest rate benefit.

Rate Of Interest

The Surendranagar District Co-op Bank provides various kind of deposit schemes for customers. For more detail regarding deposit schemes, please contact nearest branch.

The bank offers various facilities and adheres to RBI's guidelines to ensure the safety and convenience of your term deposit.