The deposit is automatically renewable after a period of 46 days up to a maximum of 7 times that is a deposit is mature on 368th day (corresponding to nearly one year)

Each renewal of deposit for a lap of 46 days shall be deemed to be a separate and independent contract

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

The bank will accept this deposit for a minimum or RS.1000/- and in multiples of Rs.1000/- as intial deposit.

Loan facility against this deposit is maximum of 75% over this deposits.

If any preclosure sought for, the amount payable shall be the principal plus the interest on  the deposit up to the last completed term of 46 days. For example if a deposit under this scheme is preclosure on 270th day from the date of deposit, the amount payable shall be the initial amount of deposit plus the interest accrued on the deposit up to the 230th day (i.e) the maturity value at the 4th cycle of renewal of the deposit because the bank treat each renewal as independent contract.