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Cash certificates are a special type of deposit that is purchased for a certain amount. The account holder builds up to the full amount of the certificate, earning interest as the money is transferred to the account. Cash certificates can last years, and holders can even borrow money against them if necessary.
|Who can open :||Any Individual in his/her own name or in their joint names. Minor represented by parents / guardian. Clubs, Societies, Associations, Educational Institutions, Trusts, Firms.|
|Period of Investment :||One Year|
|Amount of Deposit :||Minimum Rs.5000.00 No Maximum Limit on deposit.|
|Interest Payment Frequency:||Interest will be compounded quarterly, credited to the account half- yearly and paid on maturity.|
|Miscellaneous:||Nomination facility Premature closure facility as per the rules lay down by the society. Loan facility up to 90% on the deposit.|
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