#1
February 6th, 2016, 07:36 AM
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KCC Corporation Bank
I want to get the details regarding the Kshemanidhi Cash Certificate Scheme of Corporation Bank so can you provide me?
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#2
February 6th, 2016, 07:51 AM
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Re: KCC Corporation Bank
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% |
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