The deposit is automatically renewable after a period of 46 days up to a maximum of 7 times. The reinvestment cycle will conclude after the 7th renewal and the period of the deposit will expire on the 368th day.

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

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

The deposit will earn simple interest.

Rate of interest for each period of 46 days is subject to change as per decision by the bank from time to time as well as the directive from the RBI.

The deposit should be in multiples of RS.1000/- subject to the minimum of Rs.1000/-.

If any pre closure is sought for, the amount payable shall be the principal plus the interest accrued on the deposit up to the last completed term of 46 days.

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

The deposit will seized to bear any interest on the expiry of the 368th day (if not already encashed before that day) when it should be presented with instructions for repayment or for issue of fresh SRI CHAKRA DEPOSIT RECEIPT (s).

Nomination facility is available for this scheme.