Cent Samvridhi Savings Account

NO. Item Description
1

Type of Account

Resident Savings Account

2

Eligibility

Residents above 18 years of age

3

Mode of holding A/c

Singly / Jointly / Jointly with survivorship benefits

4

Rate of interest and frequency

Applicable as per latest deposit rate and daily basis

5

Auto-sweep facility

Yes available.

6

Core Deposit /Threshold Deposit

`Rs 50,000.00

7

Minimum Balance

Quarterly average balance of Rs 25,000.00

8

Initial FD amount

Minimum Rs 5000.00 and thereafter in multiples of Rs 5000.00

9

Sweep out procedure

Amount will be sweeped out to FD in a unit of ` 5000.00 and multiple thereon

10

Sweep out periodicity (From SB to FD account)

Daily.

11

Min Deposit period

46 days

12

Max Deposit Period

1 year. FD will be auto renewed on maturity and interest credited to the linked SB account.

13

Rate of Interest on Fixed Deposit

Rate of Interest on Fixed Deposit as applicable to the relevant deposit period.

Additional interest rate benefit to Senior citizen @ 0.50% on fixed deposit.

No additional benefit to Staff/Ex-staff and Senior Citizen

On sweep-in: units will attract interest rate applicable to deposit period

14

Sweep-in

Daily in multiple of Rs 5000.00

15

Sweep-in Method

LIFO (LAST IN FIRST OUT)