Fixed Deposits & Cumulative Deposits - Senior Citizens

Let your hard earned money do the hard work for you post retirement through KVD for senior citizens. With additional returns on the investment, you can earn more and beat the inflation.

Overview

  • Our care and respect for senior citizens are not limited to words. We grant an extra 0.5% higher interest on this deposit scheme

Features & Benefits

  • Deposit can be opened for a period ranging from as short as 7 days to as long as 10 years.
  • Interest is paid at monthly/quarterly/half-yearly rests for fixed deposits and for KVD deposits at the time of maturity on quarterly compounding basis.
  • Premature closure is allowed at any point of time with a penalty @ 1% on the applicable rate of interest for the corresponding period for which the deposit remained with the bank.
  • Loans against deposit allowed upto limits prescribed on the basis of the residual maturity period, with interest @ only 2% above deposit rate.
  • Accounts can be opened for minimum RS. 1000/- with no maximum limit.
  • TDS applicable as per the extant IT guidelines.
  • Nomination facility is available.
  • Auto renewal facility is available.

How to Open?

  • Accounts can be opened by visiting your KGB branch.

Interest Rates & Charges

  • Deposit can be opened for a period ranging from as short as 7 days to as long as 10 years.
  • Interest is paid at monthly/quarterly/half-yearly rests for fixed deposits and for KVD deposits at the time of maturity on quarterly compounding basis.
  • Premature closure is allowed at any point of time with a penalty @ 1% on the applicable rate of interest for the corresponding period for which the deposit remained with the bank.
  • Loans against deposit allowed upto limits prescribed on the basis of the residual maturity period, with interest @ only 2% above deposit rate.
  • Accounts can be opened for minimum RS. 1000/- with no maximum limit.
  • TDS applicable as per the extant IT guidelines.
  • Nomination facility is available.
  • Auto renewal facility is available.

OUR KEY PRODUCTS

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