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THE BHUJ MERCANTILE CO OP BANK LIMITED
Purely Banking

All Deposits Interest Rates

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ATTRACTIVE DEPOSIT RATES IN CURRENT BUSINESS SCENARIO W.E.F. 16-April-2024

 

 

Type Of Deposit Period Of Deposit General Public All Staff / Senior Citizen 60+
Term Deposit From 7 Days to 44 Days 03.00% 03.00%
Term Deposit From 45 Days to 100 Days 05.00% 05.50%
Term Deposit From 101 Days to 364 Days 07.05% 07.55%
Term Deposit From 365 Days to 554 Days 07.90% 08.40%
Term Deposit From 555 Days to 1830 Days 08.25% 08.75%

Term Deposits (TDs) Double Deposit in 9 Years

(Min. Rs. 10,000/-, Max. FD/OD 80%)

For e.g. Rs. 77,777/- =>= Rs. 1,55,554/- in 9 Years

Current (Unicorn) Deposits - upto 45 days-

(LIFO Method & Min. Deposit Rs. 50,000/- and multiples thereof)

 05.00% 05.00%

Savings (Unicorn) Deposits - upto 99 Days

(LIFO Method & Min. Deposit Rs. 20,000/- and multiples thereof)

05.50%

05.50%

Recurring Deposit (RDs) From 366 Days to 1825 Days (6 Monthly)

                        07.30%                      07.30%

 

Terms & Conditions :

  • Bank will pay 03.00% p.a. ROI in Savings Deposits (SDs) on Quarterly Basis. Single TDs >= Rs. 15 Lakhs (only for General Public) will get Additional interest of 0.50% p.a., on TDs (except Double Deposits Scheme). Staff/Senior Citizen (60+ Years) will earn additional interest provided that his / her name must be First Name or Natural Guardian of Minor.
  • All New/Renewing TDs will be applied for Auto-Renewal on Maturity for the original tenure @ the interest rate prevailing on the date of maturity, except in cases where Maturity/Payment Instructions are given by the Depositor. In absence of Maturity Instructions, If a TDs matures and proceeds are unpaid, the amount left unclaimed with the Bank shall attract ROI of Savings A/c or the contracted ROI on the matured TDs, whichever is lower.
  • Bank can charge 1% Penal Interest in case of Pre-maturity of TDs @ Rate of Interest applicable to the amount and respective period for which the deposit remained with the bank. Savings Interest will be paid for TDs Pre-matured in 1 to 7 days. No interest shall be paid before completion of the minimum period of 7 Days and except in SDs / Savings (Flexi) Deposits / Matured / Auto Renewed Deposits). The Penal Interest on pre-matured TDs can be reversed thereof if principal amount is re-invested for higher rate for higher period in prevalent Deposit Rates.
  • Notwithstanding anything mentioned above, Bank can pay a Maximum of 08.75% p.a. ROI inclusive of all.
  • Monthly and Quarterly Interest will be allowed on Deposits with Minimum 365 Days maturity. In cumulative interest deposits schemes, interest will be paid @ Quarterly rest. DICGC Insurance Cover for Deposits is Rs. 5,00,000/- w.e.f 04-Feb-2020. TDS rules and 15G/15H as per prevailing Income Tax Act 1961.
  • Effective date of Interest Slabs and all above facilities will be from 16-April-2024 Tuesday.

---Celebrating 29 Years of Service Excellence---

 

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