MSC Bank
 
Deposits  
Fixed Deposits


The following schemes are available under Fixed Deposits (Term Deposits):

  1. Simple Fixed Deposit (Quarterly Interest)
  2. Quarterly Interest-cum-Recurring Deposit (Compounding Interest payable on Maturity)
  3. Cash Certificate
  4. Monthly Interest Deposit

These schemes are applicable to individuals and non-individuals.

 

Benefits

Attractive interest rates are made available to customers for their investments with us.

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Interest Rates

The below mentioned are the rate of interest on deposits ( other than Foreign Currency, Non-resident Accounts, Non-resident (External) Rupees Accounts and other Foreign Currency Accounts.)

Term Deposits

Effective from 30 August 2010

Duration of Term Deposit

Rate of Interest (% p.a.)

For Deposits upto Rs 1 Crore

Rate of Interest (% p.a.)

For Deposits above Rs 1 Crore (Single Deposit)

7 - 14 days 2.50 2.00
15 days - 29 days 3.00 2.25
30 days - 45 days 3.50 2.50
46 days - 90 days 4.00
3.00
91 days - 180 days 4.75 3.50
181 days to less than one year 5.75 5.00
1 year to less than 2 years 6.50 5.50
2 years to less than 3 years 7.00 5.75
3 years to less than 5 years 6.75 6.00
5 years and above (maximum 10 years) 7.00 6.00
Senior Citizen will get 0.5% more than the above rates 

TAX BENEFIT TERM DEPOSIT SCHEME - 2006

Sr. No.
Period
Interest Rates
1
5 Years
(In multiple of 100 upto maximum Rs. 1 lakh in a single financial year)
8%

1) Senior citizens who have completed 60 years of age will earn the interest 0.5 %more on above mentioned rates.

2) The bank also accepts NRI and FCNR (B) deposits.

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Terms & Conditions
  1. Completion of 18 yrs of age.
  2. Copy of :
    1. Ration Card (First & Last page) OR
    2. Passport OR
    3. Election Card OR
    4. Any authorised Identification
  3. Minimum Deposit Amount: Rs. 500/- in multiples of Rs. 100/-
  4. i) Address  ii) Phone no.  iii) PAN No. necessary. If not allotted form no. 60 to be filled.
  5. 2 Photographs for each Account.
  6. Mode of Operations:
    1. Either OR Survivor
    2. Anyone OR Survivor
    3. Severally
    4. Anyone OR Former
  7. Saving A/c with us
  8. The age proof is required in case of Senior citizen
    1. School leaving certificate
    2. Insurance policy
    3. Election Card
    4. Passport
    5. Any authentic proof.

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