BANKS DEPOSITS

ICICI BANK SBI BANK ORIENTAL BANK OF COMMERCE HDFC BANK BARODA BANK UNION BANK SARASWAT BANK AXIS BANK CANARA BANK INDIAN BANK

TARALFARAZ

SHADABAGINKYA

NIKHILSURAJAMIT

RAJKUMARRONAKNASIM

A commercial bank is a type of finance intermediaries  and a type of bank. Commercial banking is also known as business banking. It is a bank that provides checking accounts, savings accounts, and money market accounts and that accepts time deposits .bank also provides various facilities like current A/C, savings A/C, fixed deposit on account of personal A/C

Cumulative Deposit  Primarily a hosuehold saving plan, the Union Cumulative Deposit Scheme encourages

small investors to save in easy monthly instalments over a fixed period of time. Monthly installments can be for any amount starting from as low as Rs.50/- onwards A pass book

will be provided to the depositoR.

F.D (Fix deposit) A fixed deposit is meant for those investors who want to deposit a lump sum of money

for a fixed period; say for a minimum period of 15 days to five years and above, thereby earning a higher rate of interest in return. Investor gets a lump sum (principal + interest)

at the maturity of the deposit.

Monthly Income Deposit Monthly income scheme (MIS) provides for monthly payment of interest income to

investors. It is meant for investors who want to invest a sum amount initially and earn interest on a monthly basis for their livelihood. 

Recurring Deposit :The Recurring deposit account is an account in the bank (or a Post office in some

countries) where an investor deposits a fixed amount of money every month for a fixed tenure (mostly ranging from one year to five years). This scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years. The small monthly savings in the Recurring Deposit scheme enable the depositor

to accumulate a handsome amount on maturity

RATE OF INTEREST

Cumulative Deposit Interest on Interest is payed

FIXED.DEPOSIT Quarterly interest payed

Monthly Income Deposit Monthly interest on Discount bases

Recurring Deposit Monthly Interest

A unique product which offers higher rate of interest alongwith tax benefits. Specially designed to cater to the needs of the Income Tax assessees.The features of this scheme are as below:

PurposeTo enable our customers to place long term deposits to earn higher rate of interest and also to avail the tax benefits under section 80C of Income Tax Act, 1961.

EligibilityResident assessee for himself/ herself as an individual or in the capacity of the Karta of the Hindu undivided family, having Income tax Permanent Account Number

Mode of Operation Singly or JointlyMinimum Deposit Rs. 1,000/- or multiples thereofMaximum Deposit Not exceeding Rs. 1,00,000/- in a year

Type of accountTerm Deposit (TD) account / Special Term Deposit (STD) account

Tenure Minimum: 5 years - Maximum: 10 yearsRate of Interest

Premature withdrawalNo term deposit shall be encashed before the expiry of five years from the date of its receipt.

Availability Presently at CBS BranchesNomination Facility Available

Transferability among branchesAllowed

PREMIUM SAVINGS ACCOUNTOur Premium Savings Account provides an enriched version of Savings Bank

account consisting of various concessions and add-ons. It is suitable for our High Net worth Individual/ Mass Affluent customers.

Eligibility Residents, above 18 years of age

Mode of Holding Singly/ Jointly/ Jointly with survivorship benefits.

Type of account Savings Bank account. It will be linked to Multi Option Deposit (MOD) account, for auto sweep, for issue of Term Deposits and unitised break-up facilities.

Available at At all CBS branches

Minimum balance

i) Savings Bank Component: Rs.25,000/-ii) MOD Component: Each MOD Rs. 10,000/-

Rate of interest i) Savings Bank Component: As applicable to Savings Bank account.ii) MOD Component: As applicable to the Term Deposits of tenure as opted by

the customer.

Auto-sweep facility

i) Auto-sweep facility will be operative at monthly intervals and Term Deposits (TD)/ Special Term Deposits (STD) would be created under the MOD scheme, in units of Rs.1,000/-, subject to a minimum amount of Rs. 10,000/-. The facility of

unitised break-up will also be available for withdrawing the deposits conveniently.

Period of deposit

MOD Component: 1 year to 5 years, in round months.

Facilities available

i) Cheque facility: Available with no charges for issuance upto 100 cheque leaves in a Financial Year.ii) Multi-city cheques: 25 cheque leaves free in a year.iii) Unlimited number of debits per half-yeariv) ATM- cum-Debit card facility: Gold cards (Master/ Visa) will be issued, free of cost.v) Internet Banking facility: Provided free.vi) SMS Alert: Provided, freevii) Anywhere Banking: Inter-core transactions will be allowed with 25% concession in the prescribed service charges.vii) 50% concession in draft issue charges and cheque collection chargesviii) TTs/ Bankers Cheques will be issued free (out of pocket expenses for TTs will be recovered).ix)No service charges in respect of outward RTGS/ NEFT transactions.

Penalties i) If minimum balance is not maintained, to be calculated on Quarterly Average Balance basis, Rs. 500/- will be charged per quarter.ii) Closing the account before completion of 12 months: Rs. 500/-.

Others i) Terms and conditions such as transferability among branches, dormant, inoperative, nomination, linking to MOD account and standing instructions as applicable to normal Savings Bank/ MOD account will be applicable.ii) Conversion of existing SB/ Savings Plus accounts will be permissible.

1. Minimum Balance: Rs.500/-2. Free ATM card and Debit Card.

3. Free accidental insurance up to Rs.50,000/- (For 1st year only).

OBC CASA DEPOSIT SCHEME (Salient Features)

It has been decided to launch a special savings account scheme namely,'OBC CASA Deposit Scheme' with effect from May 01,

2007, detailed hereunder

OBC JEEVAN SARATHI YOJANAPurpose:-

 To empower and encourage physically challenged people to open accounts and avail concessional banking services. 

Eligiblity :- Physically challenged Persons like those suffering from, locomotor disability, Blindness

(including low vision), hearing Impairment. 

• Features/Benefits of the Scheme:-• Savings Bank account with Zero balance.

• No minimum balance charges.• Collection of Instruments At Par.

• Savings Bank account with Zero balance.• Issuance of DDs/POs At Par (excepting against Cash).

• No Standing Instruction Charges.• Free Internet Banking.

• Free “Proton” ATM Card.• Free ABB Cash transactions upto Rs 50000/-

• No Stop payment charges.• Free Accidental Insurance of Rs One Lac (for first year).

• Nomination Facility available.

Pragati Deposit SchemeName of the scheme ORIENTAL BANK PRAGATI ACCOUNT

SCHEMEDate of Commencement 14.08.2007Eligibility ALL NEW CURRENT ACCOUNTSMinimum Amount of Deposit and balance to be maintained

Urban & Metropolitan Rs.5000/-Rural & Semi-urban Rs.1000/-

Validity of Scheme For a limited period onlyAdd on Facilities 1.One Free ATM/ Debit Card for every

Account. The ATM/Debit Card may also be permitted to the partners of the firm/Directors of the Company who are authorized to operate the Account.2.Free Personal Accident (Death) insurance cover of Rs. 1 Lac (1st year)3.Waiver of 100% ABB Charges during the 1st year.4.Free internet / Tele banking5.Waiver of Demat Account Maintenance Charges (for One Year)

For Accounts maintaining Average daily Current Account Balance of Rs. 5 Lacs or more

Additional Benefits1.Free Draft issuance Facility2.Free RTGS Facility upto Rs.5 Lacs.(However, mandatory RBI charges plus  applicable service tax shall be  recovered.

Free Personalised Cheque Book.Free PAP Cheque Book (issued only on request).

No Cheque Book Charges (issuance charges as per S&F brouchure apply).Free International Debit Card for 1st Year.

Free Personal Accident Insurance cover of Rs.2.00 Lacs on Debit Card.Inter Branch Banking.

Free PhoneBanking , MobileBanking and NetBankingFree Passbook facility available at home branch for account holders

(individuals).

Free Monthly email statements .

KISAN PRAGATI SCHEME

Supper savingIt's like two Accounts working in tandem to give you better returns.

Choose between a Savings Account or Current Account to link to your Fixed Deposit.

Avail an overdraft facility to supplement your household or business needs.

Pay back with interest only on the drawn amount, while the remaining Fixed Deposit continues to earn you interest.

Flexibility in altering period of deposit, maturity and payment instructions, principal amount and rollover mode before maturity of the rollover deposit.

Senior citizens enjoy a higher rate of interest on their Fixed Deposits.

Choose between a Savings Account or Current Account to link to your Fixed Deposit.

Earn higher interest on the money till it is swept-in, while the remaining Fixed Deposit continues to earn you interest.

Only an exact amount required to make up for the deficit in the Savings account is withdrawn from your Fixed Deposit (units of Re. 1/-) thereby minimising interest loss.

Multiple deposits can be linked to the Savings account.

Flexibility in altering the period of deposit, maturity and payment instructions, principal amount and rollover mode.

You can avail of both, a super saving account as well as a Sweep-In Facility if you have linked your deposits to a Savings Facility.

Senior citizens enjoy a higher rate of interest on their Fixed Deposits.

Avail an international saving account and a Free cheque book on your Sweep-in Savings account.

SWEEP IN

Nagrik Bachat KhataNo frills. No hidden charges.

Bank of Baroda launches a new small savings product – Nagrik Bachat KhataThe Indian economy has undergone a significant transformation since the economic reforms in 1991 with the banking sector in the forefront. Nagrik Bachat Khata is a product through

which Bank of Baroda intends to extend its services to a vast section of population by making banking easy and convenient.

Key BenefitsServices designed to cater to a vast majority of Indian population

Banking simplifiedOpen account with an initial amount of just Rs. 50/-

Zero service charges for non-maintenance of a minimum balance of Rs. 50/-

Who can open the account :All resident individuals who are eligible to open Savings Bank Account avail of this offering in

single or joint names. This product is not for Non Resident Indians, Trusts, Societies, etc.

Minimum amount:Rs. 50/- at all centers (Metro/Urban/Semi Urban/Rural). No service charges

for non-maintenance of minimum balance

Maximum amount:There is no ceiling on the amount deposited/held in the account. However,

in case of minors (between 10 and 14 years), maximum amount can not exceed Rs. 1 lakh

Account can be operated by the customers using withdrawal slip along with pass book only.

A cheque book of -10- leaves will be issued on request for one year free of cost. 

Number of withdrawals not to exceed thrice in a month.The account could be opened by any out minor or major

PURPOSE• To provide a deposit product with a floating interest rate linked to a benchmark rate.

• To provide the depositor with an option to invest in the floating rate deposit scheme thereby enjoying a unique advantage in case of interest rate fluctuation.

ELIGIBILITYResident Indian Individuals, Firms, companies, Trusts, Societies or any other institutions.

AMOUNTThe minimum amount of deposit will be Rs.50,000/- and thereafter in multiples of Rs.10,000/-. There is no upper limit.

NATURE OF DEPOSITFixed Deposit only (no re-investment scheme)

PERIOD OF DEPOSITFixed maturity term of 5 years.

RATE OF INTERESTInterest rate will be benchmark rate plus incentive rate. The Benchmark rate will be the 3-year term deposit rate of the Bank. For the present, no incentive has been set. The Benchmark rate will be reset every 6 months on 1st May and 1st November

every year.

Union Float

The concept of floor rate has been introduced by the Bank so that investor risk is minimised. A floor rate 2.00% below the initial benchmark rate is fixed under the

scheme. The benchmark rate applicable to any depositor after 6 monthly reset will not be more than 2% below the initial benchmark rate at which he had kept the

floating rate deposit.

OTHER PROVISIONS• Interest will be paid at quarterly intervals on a simple interest basis and will be

credited to the depositor’s account by way of a transfer or through issue of Pay Order or Demand Draft. Interest will be paid on the last working day of each

calendar quarter

FLOOR RATE

Madhukar Tax Saving Deposit SchemeMoney does not grow on trees. But by saving and investing wisely one can make money hands over fist.

With this intention Bank has come out with a scheme which allows you higher returns compared to other tax savings chemes. Investments under the scheme are exempted under Sec 80C of Income Tax Act

In the Finance Bill of 2006, the government had announced Tax benefits to Bank Term Deposits which are of over 5 year tenure u/s 80C of IT Act, 1961 vide Notification Number 203/2006 and SO1220 (E) dated

28/07/2006.Invest minimum Rs 5000 and in multiples of Rs 100. Maximum amount being Rs 100000 during the calendar year

1.Maturity Period of the term deposit is minimum 5 years. 2.Deposit can be kept in a single name or in joint names .Tax benefit under Sec 80 C shall be available only to

the first holder .3.Interest on the term deposit is payable Quarterly .

4.The term deposit cannot be pledged to secure loan/overdraft or as security to any other asset neither they can be withdrawn prematurely.

5.The tax on interest earned is deductible in accordance with the provisions of section 194A or section 195 of the Income Tax Act 1961

The Encash 24 gives you the liquidity of a Savings Account coupled with high earnings of a Fixed Deposit. This is achieved by creating a Fixed Deposit linked to your Savings

• Maximum Returns:Your money is no longer idle. As soon as the balance in your Savings Account crosses over Rs 25,000, the excess, in multiples of Rs 10,000 will be transferred automatically to a higher

interest earning Fixed Deposit Account. The maturity of fixed or term deposits formed as a result of transfer of money from the Savings Bank account will be for a maximum period of 181 days and the

interest will be calculated on simple interest rate basis. • Maximum Liquidity:

The money parked in Fixed Deposits as a result of the above mentioned sweep out from your Savings account can be easily accessed by issuing a cheque, withdrawing through ATM etc. This

amount is automatically reverse swept from the most recently formed Fixed Deposit in units of Rs 5,000 to the Savings account whenever the balance in your Savings account falls below

Rs 25,000. The amount broken form your Fixed Deposit will earn interest rates at the applicable rate for the period that the deposit was held with the Bank. The remaining amount of Fixed Deposit

will continue to earn the contracted rate of interest. • Auto Renewal:

On maturity of your linked Fixed Deposit, the Bank will automatically renew it for a maximum period of 181 days.

Encash 24

CANARACHAMP DEPOSIT SCHEMEPRODUCT NATURE Basically an SB deposit for children

ELIGIBILITY Children upto the age of 12 years (i.e. till 11 years, 364 days)

MINIMUM DEPOSITInitial deposit can be any nominal amount with a minimum of Rs.100/-. No penalty in case of non-maintenance of minimum balance.

RATE OF INTEREST As applicable to SB deposits. Presently 3.5% per annum

CHEQUE BOOK Cheque books are not issued under the scheme

JOINT ACCOUNT Joint accounts cannot be opened under the scheme

OTHER FACILITIES

Nomination facility is availableC-Net Banking facility is available (For viewing only) Conversion of the account into regular SB account after

the child attains majority

APPLICATION & DOCUMENTS

Form 60 or 61 (if customer does not have PAN Card)Photograph of depositor/s (2 copies)Proof of address as per KYC Norms

ELIGIBLE ACCOUNTS Domestic Fixed Deposits and Kamadhenu Deposits

ELIGIBILITY

.       Individuals, who have completed the age of 60 years and above, in single or joint names .       In case of joint account, accounts can be opened jointly with other Senior Citizens or with other persons below the age of 60 subject to the condition that the Senior Citizen is No.1 depositor

INVESTMENT Minimum Rs. 1000/-Maximum - No ceiling (Can be deposited in odd amount also)

PERIOD OF DEPOSIT 15 days to 120 months Kamadhenu Min. Period – 5 months

INTEREST RATE Additional 0.50% rate of interest for deposits less than Rs.1 crore.

PERIODICITY OF INTEREST PAYMENT

· Monthly (discounted) or quarterly on Fixed DepositsCompounded quarterly on Kamadhenu Deposits

TDS ON INTEREST Applicable

NOMINATION FACILITY Available

LOAN FACILITY Available upto 90% of the balance deposit amount

PENALTY FOR PRE-MATURE CLOSURE

No penal cut. Wherever preferential rates are extended for bulk deposits Interest payable at base rate for the period run.

MANDATORY DOCUMENTS

• LIC Policy Voters Identity Card Pension Payment Order Birth Certificate issued by the competent authority Passport

ASHRAYA DEPOSIT SCHEME (FOR SENIOR CITIZENS)

VIDHYA NIDHI DEPOSIT In order to help the customers, particularly the middle income group like

salaried class, small traders etc., to plan their savings and to make a financial provision well in advance to meet the future expenditure like the educational

expenses of their children, specific purposes like investments, payment of annual instalLments, a unique scheme called "Vidhya Nidhi Deposit" has been launched in our Bank.  Under the scheme, deposits are accepted every month

for specified periods like 36 months, 48 months or 60 months and the maturity value is paid to the customer in 3, 4 or 5 annual instalLments

respectively with further interest. The RD on completion of 3/4/5 years, as the case may be, shall be treated as RIP and will continue to earn interest at the same contracted rate, on the balance after annual payMemnt. The customer is having an option to choose the amount of annual instalLments required by

him and the plan period. For fixing the rate of interest, the whole term of deposit including the repayment period shall be taken into account.