Madhu Sanchayani

INTEREST RATE ON MADHU SANCHAYANI – 3.50%

Rules:

  • Account opening form must be fully filled, (a) For Self, (b) Minor / Minor’s guardian Signature, (c) Joint account holder can operate either by both signatures or by any one signature. Account will not be open for more than two names.
  • Depositors can deposit Rs.1/- or more than Rs.1/- but not above Rs.1000/- Under this scheme.
  • Pass-books will be given to the Depositors. Duplicate pass-book will be issued if original is lost, by charging Rs.20/-
  • Bank’s representative will collect the deposit from the depositor.
  • Pass-books given will be updated daily. If any mistakes happened, notify the concerned officer.
  • Pass-books will be summoned every month in the bank for checking.
  • For this deposit scheme account will be opened for 6 months to 1 year.
  • Depositor will get the maturity amount as per the table given above. After completion of maturity period, if the full amount was not deposited, interest will not be paid.
  • If depositors want to close the account before maturity, deduction of Rs.20/- if amount is less than Rs.500/- and 4% if the amount is above Rs.500/-.
  • In case depositors demise the amount will be given to the nominee.
  • In case of emergency, 80% loan will be given on the two months balanced amount and 10% interest will be charged. Amount of loan should not be less than Rs.1000/-
  • To withdraw a deposited amount or to get a loan amount the person has to be present. Same can be done by Letter of Authority, but the bank will not take any guarantee, if there is any misdemeanor happens.
  • If there is any loan amount pending towards the depositor, the Bank has full rights to recover the loan amount at the time of maturity.
  • Bank has full rights to change above rules prior to any notice.

***For further details contact our nearest Branch or Leave us a Message

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