Features and Benefits

• Can be opened by all individuals including Minors under Guardianship.
• Minimum deposit amount can be invested from Rs 500/- and in multiples of Rs 100/-.
• Deposit period ranges from 12 months to 60 months.
• For Women Depositors 0.50% and for Senior Citizen Depositors 0.75% Extra interest on above rates.
• Nomination Facility Available, Loan Facility Available.
• Pre-Mature Closure is allowed, subject to applicable norms.

Terms and Conditions

• For delay in payment of monthly installments, a penalty will be charged at the rate of Rs 2/- for every Rs 100/- per month.
• A fraction of month will be treated as full month for the purpose of calculating penalty. 2% Pre-Closure Charges applicable.
• The Period and Installment amount is Fixed at the time of Deposit account opening. There would be no changes in that.
• Its mandatory to become as a member of the CITO Nidhi Ltd. Member should subscribe for minimum 10 Shares with face value of Rs 10/- per share and total value of Rs 100/-. Should comply with RBI KYC norms and should provide original KYC documents along with photocopy for verification.
• Interest will be calculated at the rate applicable for the period the deposit has actually remained with the Bank. The rates are subject to change from time to time and same will be notified. All Guidelines applicable with regard to acceptance, payment and transfer of term deposits will apply to the deposits acceptance under this scheme.

Interest Rate