Corporation Bank is a public sector banking company headquartered in Mangalore, India. The bank was established on 12 March 1906.

Kshemanidhi Cash Certificate Scheme

A re-investment Term Deposit scheme where the deposit amount grows rapidly as interest is compounded quarterly.

Who can open :

An Individual in his/her own name.
Minor represented by parents / guardian.
Individuals in their joint names with suitable repayment instructions
Clubs, Societies, Associations, Educational Institutions, Trusts, Firms, Partnerships, Joint Stock Companies, Executors, Administrators, HUFs, Govt. Departments, etc.

Amount of Deposit-

Minimum Rs.500/- in Rural & Semi Urban Branches & Rs.1,000/- in Urban, Port town & Metro Branches.

No Maximum Limit on deposit.

Rate of Interest-

The rate of interest depends on the period of deposit, payable at the rate as decided by the Bank from time to time.

Period of Investment-

Minimum 6 months and maximum 120 months

Interest Payment Frequency-

Interest will be compounded quarterly, credited to the account half-yearly and paid on maturity.

Add-ons-

Nomination facility

Premature closure facility as per the rules lay down by the Bank.

Loan facility up to 90% on the deposit, while for 3rd party deposit, it is up to 75%