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Fixed Term Deposits

  • To satisfy safe investment needs of the customers The Veraval Mercantile Co-operative Bank Ltd. provides various type of fixed deposit facility with different time band and on attractive interest rates.
  •  Simple Fixed Deposit
  •  Interest payout on Monthly or Quarterly basis as per depositor’s instruction.
  •  Ideal Scheme for pensioners, retired, senior citizens.
  •  Re-Investment
  •  Interest is re-invested & compounded on quarterly basis
  •  Single Term Deposit
  •  Interest rate is higher on Single Bulk investment.
  •  Single FD certificate of Rs. 15 Lakh and above.
  •  Deposit period is 1 year and above.
Regular Savings Account :
  •  Fix deposit scheme is available for fix period from 15 days to 10 years.
  •  Customer can Open Fix Deposit A/c with minimum of Rs.500/-
  •  0.5 % Extra interest on Fixed Term Deposit for period of 1 year and above.
  •  Loans or Overdraft facility is available on Fix deposit account.
  •  Guardian can open Minor Fixed deposit A/c.
  •  Every Depositor must have to fulfill KYC norms as per RBI directive.
  •  Premature Payment of Deposits will be subject to RBI directives and Bank's Deposit Policy applicable from time to time.
  •  The maturity amount is payable on maturity date. If depositor do not renew or withdraw the deposit then the interest as applicable to Savings Bank account will paid to the Depositor as per RBI guidelines.
  •  Nomination facility is available.
  •  The Board of Directors of the Bank having all rights to change the rules and regulation for the scheme as per RBI directive.
Deposit up to Rs. 1 lakh is cover under Deposit Insurance & Credit Guarantee Corporation (DICGC) policy.
Interest Rate of Deposits
Do you have any questions ? Feel free to contact us !