Current Deposits
The current deposit refers to a service without any deposit term limitations that cash deposits and withdraws can be made at Bank counters, Bank self-service equipment’s with Bank card，passbook or reserved password during Bank business hours.
Savings Deposits
A savings account is an interest-bearing deposit account held at a Bank or another financial institution that provides a modest interest rate. Banks or financial institutions may limit the number of withdrawals. Interest will be paid @ 4.00 % on daily basis.
Recurring Deposit
Recurring Deposit is a special kind of Term Deposit offered by Banks which help people with regular incomes to deposit a fixed amount every month into their account.
THE DEPOSIT RATE OF INTERST ARE HERE UNDER:
Term Deposits
| S.NO | Period of Deposits | Rate of Interest(%) |
|---|---|---|
| 1 | Saving Account | 3.50% |
| 2 | 15 days to 45 days | 4.25% |
| 3 | 46 days to 90 days | 5.00% |
| 4 | 91 days to 180 days | 5.35% |
| 5 | 181 days to 364 days | 6.75% |
| 6 | (365 days)1 year to 2 years | 7.65% |
| 7 | Above 2 years to 3 years | 7.50% |
| 8 | Above 3 years to 5 years | 7.00% |
| 9 | Above 5 years to 10 years | 6.50% |
Interest Rates offered on Special Deposits:
Vijaya Durga 777 Days : 7.50% (Additional ROI 0.60% applicable to Senior Citizens)
Additional 0.60% excess RoIfor Senior citizens whose deposits are not less than Rs.5000/- with a minimum period of one year.
Additional 0.25% excessRoI for Individuals whose deposit is between 50 lakh to 1 crore with a minimum period of one year.
Additional 0.35% excessRoI for Individuals whose deposit is more than 1 crore with a minimum period of one year.
Additional 0.25% excessRoI for Institutions whose deposit is more than 1 crore with a minimum period of one year.
Additional 0.50% excessRoI for co-operative societies deposits including PACS deposits.
Maximum tenure for any deposit is TEN years
1%penal interest shall be levied for pre-closure of deposits.
Young Champion Accounts:
DCCB Srikakulam provides scholarship accounts for the children whose age is above 10 years.
Special RD & RIP for children
It is a special kind of Recurring Deposit & Re-Investment plan deposit offered by Bank to the children of age below 10 years, which help people with regular incomes to deposit a fixed amount and get the lumpsum amount at the time of maturity. Pre-closure facility is not available for these deposits.
Special Recurring Deposit for children 6 years 6 months: 8.50 %
Special RIP for children for 6 years 6 months: 8.50 %