Monthly / Quarterly Interest Deposit (Sanmitra Sahakari Bank Ltd.)
► Product Type: This is a fixed deposit (FD) scheme. The key feature is the regular payout of interest, as opposed to a traditional FD where interest is paid only at the end of the term.
► Interest Payout: You have the option to receive interest payments on a monthly or quarterly basis, which can provide a steady income stream.
► Interest Rate: The interest rate for this scheme is typically the same as the regular fixed deposit interest rates offered by the bank for a specific tenure. However, since the interest is not compounded, the final maturity value will be less than a standard cumulative FD. The specific rate will depend on the chosen deposit tenure (e.g., 1 year, 2 years, etc.).
► Eligibility: This scheme is likely available to all eligible customers, including individuals, senior citizens, trusts, etc. Senior citizens often receive a higher interest rate.
Interest Rate - Click Here
Benefits:
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Regular Income: Provides a predictable and recurring income from your savings.
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Safe Investment: Your deposit is a safe and secure investment.
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Liquidity: While the principal amount is locked in for the chosen tenure, the regular interest payout provides some liquidity.
To get the exact content you need, please follow these steps:
Contact the bank directly: The best way to get accurate information is to visit a branch of Sanmitra Sahakari Bank Ltd. or call their customer service number.
Inquire about the scheme: Specifically ask for the details of the "Monthly / Quarterly Interest Deposit Scheme," including:
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Current interest rates for various tenures.
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Minimum and maximum deposit amount.
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Any other specific terms and conditions.
