Brief features of the product

Eligibility Individual (singly or jointly) with others
Minor who have attained the age of 10 years and above in his own name on giving proof of age
Proprietorship/Partnership Firm, Commercial Organization, Company /Corporate Body
Hindu Undivided Family
Association, Club, Society, Trust or Religious/Charitable or Educational Institutions
Municipality or Panchayat, Government or Quasi-Government Body
Illiterate and blind persons can also open the account.
Deposit Amount Single deposit of above Rs.10.00 crore, and thereafter in multiples of Re. 1
Single Interbank Deposit of Rs 2 crore& above
Single NRE & NRO Term Deposits of above Rs 10 crore
Single FCNR (B) deposit of 1 Mio and above for USD,GBP & EUR currency
Branches are required to take prior approval from Circle Heads for accepting, a single domestic fixed deposits of above Rs.10 Crore whether fresh or renewal.
Circle Heads in turn, would seek permission for such deposits from HO: Treasury Division.
All, references in respect of interest shall be dealt with by HO: Treasury Division.
Period of Deposit Maturity Option:
For any period from 7 days to 120 months. Income Option:
For any period from 6 months to 120 months.
Interest Option While making the deposit, a depositor shall exercise his option regarding payment/or re-investment of interest on the deposit amount. The following options are available under the Scheme:
Income Option
The interest may be paid on monthly/quarterly or on maturity of thedeposit. 
The monthly interest will be paid at discounted value whereas the same shall be quarterly compounded in case of half-yearly and yearly payment of interest.
The receipt-wise interest paid on monthly/ quarterly (as the case may be) will be updated by the system.
Maturity Option (Re-investment of interest on quarterly compounding basis)
Interest shall be compounded on quarterly basis and is payable on maturity of deposit.
The incomplete quarter of such deposit shall be reckoned at the end, forthe purpose of calculation of interest
Conversion/ Change in Option No Conversion allowed
Auto Renewal Not allowed
Premature Renewal/ Extension Not allowed
Part Withdrawal Not allowed
Advances/ Overdraft Facility The extant guidelines issued by HO: IRMD will be applicable. For all withdrawals over Rs 25 Crore guidelines of prior information of HO: Treasury Division shall continue regularly. However, the option/facility of overdraft/loan shall not be available in the account opened in the name of minor.
Maturity Value For deposits held in maturity option, the maturity value of the deposit shall be calculated by system on quarterly compounding basis. However, in income option, interest shall be payable quarterly on simple rate or monthly at discounted rate at the option of the depositor.
Other issue Any clarification/information in respect of the scheme shall be obtained from HO: Treasury Division only.

* Other terms and conditions as per general guidelines

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