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Nature of Deposit	General Rate	For Senior Citizens
Tax Saver Gold Deposit Account	9.25%	9.25%
Tax Saver Silver Deposit Account	9.25%	9.25%

ĢThe single holder type deposit receipt shall be issued to an individual for himself or in the capacity of the Karta of the Hindu undivided family;

ĢThe joint holder type deposit receipt may be issued jointly to two adults or jointly to an adult and a minor, and payable to either of the holders or to the survivor:

Provided that in the case of joint holder type deposit, the deduction from income under section 80C of the Act shall be available only to the first holder of the deposit.

Under the scheme term deposits of amount Rs.1000 or multiples there of shall be accepted. The depositor should submit his income tax PAN number and photograph along with the application.

(1) The maturity period of a term deposit receipt of any denomination shall be five years commencing from the date of the receipt.

(2) No term deposit shall be encashed before the expiry of five years from the date of its receipt.

The term deposit shall not be pledged to secure loan or as security to any other asset.

All deposits receipts should be surrendered duly discharged for repayment on or after the due date.

Payment of deposit amount including interest, if exceeds Rs.20000 or the aggregate amount of deposits held by the customer in his sole name or jointly with others, on the date of payment of any one deposit exceeds Rs.20000, will be made by way of Account Payee crossed cheque /draft or by way of credit to SB/CA of the depositor (s).

The rate of interest on the term deposit scheme shall be in accordance with the rate fixed by the bank. It will be the rate prevailing on the date of deposit.

(1) Interest on these term deposits shall be liable to tax under the Act, on the basis of annual accrual or receipt, depending upon the method of accounting followed by the depositor/assessee.

(2) The tax on such interest shall be deducted in accordance with the provisions of section 194A or section 195 of the Income tax Act. However, the scheme is subject to any change in the regulations by the Govt. of India and Reserve Bank of India.

(1) A term deposit may be transferred from one branch , to any other branch on the depositor making an application.

(2) Every such application shall be signed by the holder/s of the term deposit receipt:

Provided that in the case of joint holder type deposit, the application may be signed by one of the joint holders if the other is dead.

(1) If a term deposit receipt is lost, stolen, destroyed, mutilated or defaced, the person entitled thereto may apply for the issue of a duplicate receipt to the branch from where the receipt was issued.

(2) Every such application shall be accompanied by a statement showing particulars, such as number, amount and date of the receipt, and the circumstance attending such loss, theft, destruction, mutilation or defacement.

(3) If the officer in charge of the bank is satisfied of the loss, theft, destruction, mutilation or defacement of the certificate, he shall issue a duplicate receipt on the applicant furnishing an indemnity bond in the prescribed form with one or more approved sureties or with a bank guarantee:

Provided that where the face value or the aggregate face value of the certificate or certificates lost, stolen, destroyed, mutilated or defaced is five hundred rupees or less, a duplicate receipt or receipts may be issued on the applicant furnishing an indemnity bond without any such surety or guarantee:

Provided further that where such application is made with respect to a receipt mutilated or defaced, of whatever face value, a duplicate receipt may be issued without any such indemnity bond, surety or guarantee, if the receipt mutilated or defaced is surrendered and the receipt is capable of being identified as the one originally issued.

(4) A duplicate receipt issued under sub-paragraph (3) shall be treated as equivalent to the original receipt for all the purposes of this scheme except that it shall not be en cashable at a branch of the bank other than the branch at which such receipt is issued without previous verification.

(1) Subject to the provisions of paragraph 1, the single holder or the joint holders of a term deposit may, by filling in necessary particulars in the prescribed form at the time of making the term deposit, nominate any person who, in the event of death of the single holder or both the joint holders, as the case may be, shall become entitled to the deposit and to the payment due thereon. If such nomination is not made at the time of making the term deposit, it may be made by the single holder, the joint holders or the surviving joint holder, as the case may be, at any time after the term deposit receipt is issued, but before its maturity, by means of an application in the prescribed form to the officer in charge of the branch of the bank from which the term deposit receipt was issued.

(2) No nomination shall be made in respect of a term deposit applied for and held by or on behalf of a minor.

(1) In the event of the death of the holder of a term deposit in respect of which a nomination is in force, the nominee or nominees shall be entitled at any time before or after the maturity of the term deposit to encash the term deposit.

(2) For the purpose of sub-paragraph (1), the surviving nominee or nominees shall make an application to the branch manager of the bank, supported by proof of death of the holder and of deceased nominee or nominees, if any.

If a holder of a term deposit dies and there is no nomination in force at the time of his death, manager of the branch of bank from where the term deposit was issued, shall pay the sum due to the deceased, to his legal heirs.