Planning & Development Division

Cir No: 99/23/2022/PDD Date: 01.04.2022

INTRODUCTION OF “VIKAS SIRI SAMPAT-1111” TERM DEPOSIT SCHEME

We have been receiving representation from branches and Regional Offices to introduce
attractive special deposit product in line with other banks in the area so as to mobilize retail
deposits in a big way. Accordingly, Bank has come out with a special Term Deposit
Scheme viz., “VIKAS SIRI SAMPAT-1111” with attractive features.

The scheme is aimed at attracting new customers and retaining existing customers so as
to achieve a sustained growth in Core Deposit (retail deposit) component of the Bank.

The new term deposit scheme is available w.e.f 01.04.2022.

Salient features of “VIKAS SIRI SAMPAT-1111” are furnished below.

Sl.No. Parameter Particulars

1 Eligibility
2 Minimum Deposit
Amount
3 Tenure of Deposit
4 Rate of Interest
5 Premature closure
6 Nomination facility
7 Loan facility
8 TDS
9 Deposit Product
Acceptance period
 All Resident Individuals
 Institutions/Corporate/Proprietorship/
Partnership/Trust/HUF
Minimum of ` 10,000/- and in multiples of ` 5000/-
thereafter with a Maximum investment up to ` 2 Crore.
1111days
General Public -5.70% p.a. (Quarterly Compounding)
Senior Citizens-6.20%p.a. (Quarterly Compounding)
Premature closure under this scheme is permitted with
penalty as per the extant guidelines.
Available
Available depending upon residual maturity period as
per extant norms applicable to other term deposits.
Tax deduction at source (TDS) is applicable as per
Income Tax rules.
From 01/04/2022 to 31/03/2023

Additional interest of 0.50% over the card rate is payable to Resident Indian Senior Citizen
on Domestic Term Deposits below ` 2 crore and with maturity tenor of one year and above
only.

Employees, eligible ex-employees, spouse of deceased employees and ex-employees are

eligible for an additional interest of 1% over the card rate irrespective of the amount and
tenor of deposit.
Eligible ex-employees/ spouse of deceased employees who are Senior Citizens; eligible for
an additional interest of 1% payable to employees/eligible ex-employees are also eligible
for an additional interest of 0.50% payable to Resident Indian Senior Citizens on domestic
term deposits below ` 2 crore and with maturity tenor of one year and above only.

Branches are advised to capitalize this opportunity, popularize the product in service area
and bring in new customers besides retaining their existing depositors.

Product code for “VIKAS SIRI SAMPAT-1111” Scheme

Product Type: 2549 Interest Category

1571-Public Individual
4571-Public Senior Citizen
3571-Staff Individual
6571-Staff Senior Citizen