Daily Deposit

Deposits of the public are broadly classified into demand deposits - which can be withdrawn on demand during the banking hours through withdrawal slip or cheque and time deposits - which are kept for specific periods and repayable on maturity. The time deposits also called term deposits, which can be paid pre-maturely, also with prescribed notice and penalty for pre-payment. For opening accounts with the Bank the public shall comply with the prevalent Know Your Customer (KYC) norms such as providing identity proof/residential proof and introduction etc. Daily collection Deposit Scheme, this scheme will develop the saving habit of customers and will enable them to deposit money on daily basis from their home or business place itself to fulfil their future financial requirements.

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