The bank was established to help the industrialists and traders and agriculturalists that resided in the region of Karur. Between the years 1961 and 1965 the bank grew rapidly and post 1974, it started to expand to other parts of the country as well. Today, the bank offers its services through an impressive network of over 400 branches spread across the country. It also has 11 regional offices and well over 800 ATMs.
Any individual can open a fixed deposit with the bank. The FD can also be opened jointly or by a group like a company or a society. Even minor above the age can open fixed deposits either under the guidance of a guardian or on their own. Even NRIs (Non Resident Indian’s) can open these fixed deposits.
A fixed deposit with this bank can be opened in two ways:
Once the form is completed it will provide you with a unique number to track your request and also a list of documents that will be needed. Thereafter, a representative of the bank will get in touch with you to help with the remaining formalities.
| Maturity Period | Regular | Senior Citizen |
|---|---|---|
| 7 days | 2.50% | 2.50% |
| 8 days to 14 days | 2.50% | 2.50% |
| 15 days to 29 days | 2.50% | 2.50% |
| 30 days to 45 days | 2.50% | 2.50% |
| 46 days to 60 days | 2.50% | 2.50% |
| 61 days to 90 days | 2.75% | 2.75% |
| 91 days to 180 days | 2.75% | 2.75% |
| 181 days to 269 days | 3.00% | 3.50% |
| 270 days to 364 days | 3.5% | 4.00% |
| 365 days to 375 days | 5.00% | 5.50% |
| 376 days to 540 days | 5.00% | 5.50% |
| 541 days to 730 days | 6.00% | 6.50% |
| 731 days to less than 2 years and 6 months | 4.75% | 5.25% |
| 2 years and 6 months | 4.75% | 5.25% |
| 2 years and 6 months and 1 day to less than 3 years | 4.75% | 5.25% |
| 3 years to less than 4 years | 5.50% | 6.00% |
| 4 years to less than 5 years | 5.50% | 6.00% |
| 5 years to 10 years | 5.50% | 6.00% |
The highest rate offered by the bank is 6%.
Yes, loan facility is available.
The minimum deposit amount is Rs.100 (no ceiling for the maximum amount).
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