SRI CHAKRA PLUS DEPOSIT – Cumulative deposit under auto renewal

Features :

1. Minimum amount shall be Rs.5000/- and thereafter in multiples of Rs.5000/-

2. Auto renewal of the deposit shall be carried out by the system

3. The deposit is automatically renewable after the period of one year upto a maximum of 4 times.

4. Interest will be reinvested together with accrued interest at the time of each renewal.

5. The rate of interest will be at the prevailing rate for the 1 year and at the prevailing rate on the date of each renewal

6. If any pre closure is sought for, as per the pre closure norms the amount payable shall be the principle plus interest accrued on the deposit up to the last completed term of 1 year and for the remaining period interest all be shall be paid as per the norms applicable

7. Loan may be availed against the deposit up to 75 % of the initial deposit Placed

8. Nomination facility is available for this scheme

9. The deposit shall continue to be auto renewed till such time instruction is received from the depositors. However, the deposit shall mature at the end of the fifth year.


KYC COMPLIANCE AND DOCUMENTS REQUIRED