HDCC Bank Interest Rate Chart
| Term | For General | For Staff / Ex-staff | For Senior Citizen | For Senior Citizen Staff | For Societies |
|---|---|---|---|---|---|
| 7 Day to 14 Days | 4.05% | 5.05% | 4.05% | 5.05% | 4.30% |
| 15 Day to 29 Days | 4.10% | 5.10% | 4.10% | 5.10% | 4.35% |
| 30 Day to 45 Days | 4.15% | 5.15% | 4.15% | 5.15% | 4.40% |
| 46 Day to 90 days | 4.50% | 5.50% | 4.50% | 5.50% | 4.75% |
| 91 Day to 180 Days | 5.25% | 6.25% | 5.25% | 6.25% | 5.50% |
| 181 Day to 364 Days | 5.50% | 6.50% | 5.50% | 6.50% | 5.75% |
| 1 Year | 7.00% | 8.00% | 7.50% | 8.50% | 7.25% |
| Above 1 Year to less than 3 Years | 6.75% | 7.75% | 7.00% | 8.00% | 7.00% |
| 3 Years to 5 Years | 6.50% | 7.50% | 6.75% | 7.75% | 6.75% |
| More than 5 Years to 10 Years | 6.25% | 7.25% | 6.50% | 7.50% | 6.50% |
| Monthly Income Scheme (MIS) for 3 Years | 6.50% | 7.50% | 6.75% | 7.75% | 6.50% |
Term Deposit
Overview
A Term Deposit account involves depositing a fixed amount for a specific period with a fixed interest rate. The deposit can be repaid either monthly, quarterly, or at the end of the chosen term. The term can range from as short as 7 days to as long as 120 months. Senior Citizens benefit from a higher interest rate on their deposits.
Types of Term Deposits
- Fixed Deposit: Interest calculated on a simple interest basis, payable either at maturity or quarterly.
- Monthly Income Scheme (MIS): A popular scheme where interest is paid monthly according to prevailing industry practices.
- Cash Certificate: Interest is compounded and paid at maturity.
- Tax-Saving Term Deposit (U/s 80C): A minimum 5-year lock-in period with no pre-maturity option or loan facility against the deposit.
- Recurring Deposit: The depositor makes regular monthly deposits and receives a lump sum at maturity. The terms (amount, time, interval) cannot be changed once set.
Eligibility
The Term Deposit account is open to all types of customers, including minors aged 12 years and above, subject to a few exceptions.
Key Features
- Minimum Deposit: Rs. 50/- (in multiples of Rs. 50/-).
- Deposit Payment: The monthly installment must be paid before the last working day of each month.
- Standing Instruction Facility: Automatically transfer monthly installments from your SB or Current Account.
- Nomination Facility: Available for individual and joint accounts under The Co-operative Banks (Nomination) Rules, 1985.
How to Apply
To apply for a Term Deposit account, download the necessary forms and visit a branch with the required documents. For more details, click the links below:
d