HIGHLIGHTS

Safety – We understand the value of your hard earned money and continue to deliver on our promise of safety and security .

LIQUIDITY

Loan / overdraft facility : You can avail a loan/overdraft against your own deposit. Bank provides you loan / overdraft up to 90% of your deposit amount at nominal cost. So you continue to earn interest in your deposit and still can meet your urgent financial requirements.

PREMATURE WITHDRAWAL

Interest to be charged on premature withdrawal of term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.

• Transferability – Transfer of Term Deposits between our branches without any charge.
• Compounding / Flexible / Timely Payment of Interest – Under our Special Term Deposit Scheme, interest accrued in your account and gets compounded quarterly. Besides, we assure timely delivery of the proceeds of your deposit with interest, on maturity. Flexibility of payment on maturity through Cash (subject to prevalent Income Tax Act), Banker’s Cheque, Credit in Savings Bank/Current account.
• Term Deposits are available at all  Branches.
• Nomination Facility – Available.

TAX IMPLICATIONS.

Tax Deductible at Source, as per Income Tax Act.From 01.04.2010, the rate of TDS will be    higher of 20% or the applicable rate in all cases where valid PAN is not quoted by the recipient. The declaration filed in 15G and 15H shall not be valid unless the person filing the declaration furnishes his/her PAN in such declaration. The customers who are Sikkim Subject holder is exempted from TDS.

Special Fixed Deposit Scheme

1.    Minimum Deposit should be Rs 10,000

2.    The interest may be paid at monthly interval at the option of Depositors

3.    At the standing instruction of Depositors interest may be credited to Savings bank account.

4.    Premature withdrawal is allowed as per rule in case of term Deposits.

5.    Instant l Demand loan/overdraft facility to the extent of 90% of deposit is allowed.

6.    The minimum term for the deposit should be more then 1 years.

Loan / overdraft facility : You can avail a loan/overdraft against your deposit .Bank provides you loan / overdraft up to 90% of your deposit amount at nominal cost. So you continue to earn interest in your deposit and still can meet your urgent financial requirements.

PREMATURE WITHDRAWAL

Interest to be charged on premature withdrawal of term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.

• Transferability – Transfer of Term Deposits between our branches without any charge.
• Compounding / Flexible / Timely Payment of Interest – Under our Special Term Deposit Scheme, interest accrues in your account and gets compounded quarterly. Besides, we assure timely delivery of the proceeds of your deposit with interest, on maturity. Flexibility of payment on maturity through Cash (subject to prevalent Income Tax Act), Banker’s Cheque, Credit in Savings Bank/Current account.
• Term Deposits are available at all  Branches.
• Nomination Facility – Available.

TAX IMPLICATIONS.

Tax Deductible at Source, as per Income Tax Act.From 01.04.2010, the rate of TDS will be higher of 20% or the applicable rate in all cases where valid PAN is not quoted by the recipient. The declaration filed in 15G and 15H shall not be valid unless the person filing the declaration furnishes his/her PAN in such declaration.