ORGANISATION STUDY The balance available in the account in excess of Rs. 20,000/- on any day will be swept out into a fixed deposit in units of Rs. 1000/- for one year and one day. The interest rate applicable for the amount so swept in will be the rate applicable for the period for which it was held in the term deposit account. No penalty is charged for breading the FD prematurely. Rs. 100/- per month is levied as service charges whenever the monthly average balance in the special saving account goes below Rs. 20,000/-.
(3). Syndicate Floating Rate Deposit Scheme: The scheme has been launched from 01 -01-2003 and the deposits are accepted at Syndicate e-banking branches.
Features: (a). Amount of deposit: Minimum deposit acceptable under this scheme is fixed at Rs. 100/- lacs and in multiples of Rs. 1/- lac. (b). Period of deposit: one year.
PRASHANTHA SHETTY K, B. B. M. FINAL YEAR REG. NO. 050080049 BHANDARKARS’ ARTS & SCIENCE COLLEGE, KUNDAPURA
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