The scheme is operational to December 31, under which the customers can park their surplus funds for a short period of 150 days and earn higher returns on their deposits. The depositors also get the facility of loan /overdraft on their deposits.
The Bank is offering interest rate of 9.15 per cent per annum for the public. There is no maximum limit of deposit under the scheme however, the minimum amount of deposit is Rs 15,000. Customers have the option to withdraw the amount at any time after 7 days with no penalty.
The product is applicable to all type of customers as well as Non-Resident Indians (NRO), a release from the bank said.
Dion Global Solutions Ltd.