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Deposit Scheme

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TJSB Sahakari Bank offers several term deposit schemes for various durations. Our offers include simple reinvestment term deposits at attractive interest rates. These accounts can be opened with an investment of Rs. 1,000/-
You have different needs and we have different type of deposits for you. Choose Wisely.
Period of Deposit Minimum 1 year and maximum 10 years
Interest Payment Quarterly Interest By Pay Order / Cash / Credit to Account
Maximum Amount of Deposit No Limit
Minimum Amount of Deposit Rs. 1,000/-
Pledging of Deposit Allowed
Premature Withdrawal Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Additional Interest Rate for Senior Citizen Applicable
Eligible Depositors All depositors
Period of Deposit Minimum 1 year and maximum 10 years
Interest Payment Monthly Interest By Pay Order / Cash / Credit to Account
Maximum Amount of Deposit No Limit
Minimum Amount of Deposit Rs. 1,000/-
Pledging of Deposit Allowed
Premature Withdrawal Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Additional Interest Rate for Senior Citizen Applicable
Eligible Depositors All depositors
Period of Deposit Minimum 7 days and maximum 365 days
Interest Payment Quarterly Interest payable on maturity
Maximum Amount of Deposit No Limit
Minimum Amount of Deposit Rs. 1,000/-
Pledging of Deposit Allowed
Premature Withdrawal Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Additional Interest Rate for Senior Citizen Applicable
Eligible Depositors All depositors
Period of Deposit Minimum 1 year and maximum 10 years
Interest Payment Quarterly Compounded Interest payable on maturity
Maximum Amount of Deposit No Limit
Minimum Amount of Deposit Rs. 1,000/-
Pledging of Deposit Allowed
Premature Withdrawal Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Additional Interest Rate for Senior Citizen Applicable
Eligible Depositors All depositors
Period of Deposit Five Years
Rate of Interest As per ROI of regular deposit for the applicable period i.e. 60 months.
Eligible Depositors Single Individual / Joint Deposit (Not More than two individuals as Joint Holders) / HUF
Interest Payment 1.Quarterly
2.Cumulative
Maximum Amount of Deposit Rs. 1,50,000/- (Rs.One Lakh Fifty Thousand Only) Any Individual as a single depositor or bearing first name in the joint deposit can invest total amount not exceeding Rs.1,50,000/- under this scheme
Minimum Amount of Deposit Rs. 5,000/- and in multiples of Rs. 1,000/-
Details to be printed on deposit receipt As mentioned in the notifications, the deposit receipt will bear details such as name,address, PAN no, signature of the depositor etc.
Pledging in the Deposit The deposit under the scheme can not be pledged to secure loan or security to any funding / non funding credit facility for any other purpose
Premature withdrawal Not allowed for this scheme
Additional Interest Rate for Senior Citizen Not Additional rate for this scheme
Benefits Higher Yield + Tax Benefit
Period of Deposit Minimum 1 year and maximum 10 years
Interest Payment Quarterly Compounding Interest payable on maturity
Maximum Amount of Deposit No Limit
Minimum Amount of Deposit Rs. 100/- per month
Pledging of Deposit Allowed
Premature Withdrawal Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Additional Interest Rate for Senior Citizen Applicable
Eligible Depositors All depositors
Salient Features of the Long Term (subordinated) Deposits (LTD) 2016-17:- Series-II
Particulars Salient Feature
Permission & CRAR aspects
  • 1.The Bank has obtained no objection from Central Registrar of Co-operative Societies, New Delhi and also Bank is eligible to raise the said issue in accordance with RBI Circular RBI/2016-17/7 DCBR. BPD. Cir No. 21/09.18.201/2016-17.
  • 2.Amounts raised through LTD will be eligible to be treated as Lower Tier II capital of the Bank and will be treated as Long Term (sub-ordinated) Deposits.
Issue size 40,000 units of Rs.25,000 each amounting to Rs.100 Crores (Rupees Hundred Crores only). Issue and maturity amount is at par. LTDs will be issued on “ First come, first serve basis”.
Maturity Period of LTD LTDs will have maturity of 6 (six) years from the date of issue.
Rate of interest Rate of interest payable on LTDs is @ 8.25 % p.a, payable quarterly on 30th June, 30th September, 31st December and 31st March of every year, till date of maturity. Interest on matured LTDs is not payable after the date of maturity. In case any interest or redemption payment due date(s) falls on any Sunday, Holiday or Public Holiday declared under Negotiable Instruments Act 1881, the payment shall be made on the next working day.
To be issued to LTD will be issued to Individuals (single or joint) excluding NRIs, registered organizations, private or public Ltd companies, partnership firms, registered public trusts, HUF, co-operative societies (excluding Urban Co-operative Banks). LTDs can be issued to members and non members of the bank including those outside the area of operation of the bank.
Closure of issue of LTD LTD issue shall remain open till date of closure is notified by the Bank. The date of closure of LTD issue will be notified by the Bank on its website and on the notice board of the Bank’s corporate and branch offices.Acceptance of LTD will be stopped by the Bank on receipt of the total amount of Rs.100 Crores (Rupees Hundred Crores only). However, the Bank reserves right to accept lesser amount of deposit without giving any reason.
Transferability LTD shall not be transferrable by endorsement.
Nomination Nomination facility is available for LTDs.
Loan against LTDs No advances /overdrafts shall be granted against security of LTDs and the bank will not recognize any lien, charge or other encumbrance on it.
DICGC cover LTDs will not be eligible for DICGC cover.
Seniority of claims LTD will be subordinated to the claims of depositors and others creditors but would rank senior to the claims of shareholders, including holders of preference shares (both Tier-I and Tier-II, if issued in future). Among investors of LTDs included in lower Tier-II, the claims shall rank pari passu with each other.
Options
  • (a) LTDs will not have ‘put option’ or a ‘step up’ option.
  • (b) Bank reserves right to exercise ‘call option’ anytime after 5 years from the date of issue in accordance with the guidelines of Reserve Bank of India.
Redemptions/Repayment No pre-mature withdrawal/ closure for LTD is available. Repayment of LTD at the time of maturity will be made subject to;
  • (a) Banks CRAR is above the minimum regulatory requirement prescribed by RBI.
  • (b) Impact of such repayment does not result in bank’s CRAR falling below the minimum regulatory requirement prescribed by RBI.
Nomination and Death Claim The Long Term Subordinated deposits holder/s may by signing a Nomination form nominate any person or persons to receive the Long Term Subordinated Deposit from the Bank on the death of the sole Long Term Subordinated Deposit holder/death of the last surviving holder as available under the provisions of the Law. If there is no person or persons so nominated, the Bank shall transfer the Long Term Subordinated Deposits to any such person or persons as may appear as heir/s or legal representative/s of the deceased Long Term Subordinated Deposit Holder/s, a sum representing the value of such deposit as ascertained by Bank on his/her executing a deed of Indemnity & application along with the succession certificate to the bank. The bank shall thereupon be absolved from all liabilities in respect of such deposit.
TDS Tax will be deducted at source from the interest paid as per the provisions of Income Tax Act 1961, as applicable from time to time.
Voting Rights LTD holders will not be eligible for any voting rights and /or other rights which are exclusively available to the shareholders/members of the bank.
Jurisdiction All disputes / transactions are subject to the jurisdiction of the courts of the city of Mumbai.
KYC LTDs would be subject to adherence to the KYC guidelines.
Rejection The Bank reserves right to reject incomplete application form without giving any reasons.
Interest Rates on Domestic Term Deposits ( w.e.f. 25.04.2017 )
Particulars Revised for deposit less than Rs. 15 Lacs
General / Co-operative Societies / Banks / Trusts / NRO (p.a.) Senior Citizens **(p.a.)
7 days to 14 days 5.00% 5.00%
15 days to 90 days 5.25% 5.25%
91 days to 180 days 5.50% 5.50%
181 days to 12 months 6.25% 6.25%
Above 12 months to 36 months 7.10% 7.60%
Above 36 months to 60 months 7.00% 7.50%
Above 60 months 7.00% 7.50%
** Interest rate applicable to senior citizens as per above table, will not be applicable for NRO category.

Deposit Insurance

The Deposit Insurance System in India is subject to the Provisions of Deposit Insurance Act (enacted in 1961). Deposit Insurance and Credit Guarantee Corporation (Wholly owned subsidiary of the Reserve Bank of India) is the body that operates the deposit insurance system.

To download more information click the following link : DICGC
(Website : www.dicgc.org.in )

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