ORGANISATION STUDY (7). Kisan Pragathi Deposit: Kisan Pragathi Deposit is a credit linked savings cum term deposit scheme designed for agricultural clientele. These deposits can be opened by any agriculturist solely or jointly with his wards. Interest: Rate of interest shall be 1% less than domestic term deposit rates. Interest is calculated on monthly product basis. Other Terms: TDS norms are applicable. Nomination facility is available and credit facility.
(8). Senior Citizen’s Security Deposit: This deposit scheme with value added features was introduced by the bank for the benefits of senior citizen’s who are of above the age of 60 years including retired employees of the bank, valid proof of age to be produced by the depositor. Amount of Interest: Minimum of 1,000/- and in multiples of Rs. 1000/-. Period of deposit: Minimum of 12 months and maximum of 120 months. Rate of Interest: Higher rate of 0.50% over the normal rates applicable to domestic term deposits. Interest is payable monthly (at discounted rate) or quarterly as desired by the depositors. Loans on deposits: Available up to 75% of the deposit amount. Other Features: Nomination facility is available. TDS norms are applicable. PRASHANTHA SHETTY K, B. B. M. FINAL YEAR REG. NO. 050080049 BHANDARKARS’ ARTS & SCIENCE COLLEGE, KUNDAPURA
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