Features and Benefits

• Minimum deposit amount can be invested from Rs 10,000/- and in multiples of Rs 1,000/-. No restriction on maximum deposit amount. This deposit is only eligible for Simple Interest calculation
• Deposit period should be for 72 months fixed.
• Interest amount can be credited on 1st of every month to SB account with CITO Nidhi or any other bank account as per depositor’s choice. 
• If the FD is opened in any day of the month, the interest will be calculated on pro-rata basis for that month and paid to account on 1st of subsequent month
• Pre-Closure charges of 2% applicable on contract rate for the period run
• 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.

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