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Cumulative Deposits

It is a deposit where the accrued interest is payable on Maturity along with the principal.

For Deposit interest rates click here

Maturity options available

On maturity the depositor can opt for:

  • Payment of maturity amount.
  • Renewal of maturity amount.
  • Renewal for lower multiple of Rs 1000/- (subject to a minimum balance of Rs 10000/- in the deposit account).
  • Renewal for a higher multiple of Rs 1000/- by giving a cheque for the differential amount. (Remittance should reach the company atleast one day before the date of maturity).