Samriddhi 400
| Product | Samriddhi 400* |
|---|---|
| Product Type | Retail Term deposit |
| Period of Deposit | 400 Days |
| Minimum Deposit amount | Rs.1000/- |
| Maximum Deposit amount | Rs. 2,99,99,999/- |
| Who can invest? |
Any other entity not prohibited by RBI |
| Rate Of Interest (proposed) | General Public & NRIs - 6.80% Senior Citizens - 7.20% |
| Interest Payment | Interest pay-out and Cumulative Options available. Interest paid on monthly, quarterly and half yearly basis will be simple rate of interest. |
| Type of Interest Rate (Fixed / Floating) | Fixed Rate |
| Interest Calculation method | Actual / Actual Basis |
| Deposit can be opened through | Branch channel, Net banking and Mobile banking. |
| Additional ROI | Additional ROI applicable for staff members and senior citizen staff members as applicable to regular term deposit. |
| Deposit Loan | The depositor can avail deposit loan as per the norms applicable to Regular Term Deposits. |
| Auto Renewal option | Available. The deposit will be auto-renewed for the same period at the Rate of Interest prevailing on the date of maturity, in the absence of instructions. |
| Nomination | Nomination facility available. |
| TDS | TDS will be deducted as per guidelines. |
| KYC Documents | For New Customers - Photo and valid OVD along with Deposit Application Form For Existing customers – Deposit application form. |
| Force Renew Tenor | If Lien is marked, systems will Force Renew for further period of 1Year. |
| Pre-Mature Withdrawal | Allowed. Interest will be paid for the run period at applicable rate and penalty if any. |
| Penalty on Pre-closure | 1% Pre closure penalty will apply, that is, interest will be paid at 1.00% less than the applicable rate (as on the date of opening of deposit) for the period for which the deposit has actually remained with the Bank. |
| Terms and Conditions | Other terms and conditions are as applicable to the Regular Term Deposits. |
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*KARUR VYSYA BANK RESERVES THE RIGHT TO CHANGE / ALTER/ WITHDRAW TERMS AND CONDITIONS OF THE SCHEME.