Cash Track Fixed Deposit and Overdraft Account
This scheme is the Blend of both TERM DEPOSIT as well as emergency loan in the form of OVERDRAFT to face the financial critical conditions with ease
Salient features of Cash Track Deposit product
Limit
Minimum of Rs.10000/- and no ceiling on Maximum amount.
Rate of Interest
Interest as per prevailing interest slabs as applicable to general Term Deposits depending on term of deposits. ROI is subject to the revision, which will be communicated to you from time to time.
TDS deductions
Applicable as per extant guidelines of IT Dept.
Period
3 Years and above up to a maximum of 10 years.
Premature Closure
ROI applicable for the period for which the deposit has remained in the Bank as per prevailing slab rates minus 1% Penal interest is to be paid.
Auto Renewal
No Auto-Renewal for this deposit.
- This product is also covered under DICGC.
- Regular Membership is compulsory.
Salient features of Cash Track Overdraft product
Over Draft Limit
Up to 75% of the balance in Cash Track Deposit. Overdrawing is not allowed. The limit shall be reviewed every year.
Premature closure of Deposit
If the Cash Track deposit account is closed prematurely, the Over Draft account should be closed on the same day and interest on OD shall be at the contracted rate i.e. interest rate as on the date of opening of OD account.
Rate of Interest
1.50 % PA over and above the ROI applicable to Cash Track Deposit.
Penal Interest
1.50 %
Sanctioning Authority
Branch Manager
Debit card Issuance charges
Rs.100
Period
Sanctioned The limit is for one-year subject review every year.
Auto Renewal
No Auto-Renewal for this deposit.
Product Details in Software
Cheque Book charges
Rs.2/- per leaf
Incidental Charges
Rs.100 per Half Year
Debit card facility
Instant or Personalized Debit card facility is also available.
Inward Cheque Return charges
Rs.250 per cheque.