Internet Banking

Personal | Corporate

Apply for a New Account

> Home > Personal Banking > Term Deposits

+ and ++ Dhanam+ combines the benefits of a term deposit with the flexibility and convenience of a savings bank account.

Features Eligibility Apply Flexible term deposits with interest reduction on premature closure Minimum deposit of Rs. 5,000 with subsequent multiples of Rs. 1,000 Free cheque book with a savings bank account or a certificate of deposit account Interest on eligible units paid on due date at prevailing term deposit rates of 46/91 days as per Income Tax Act provisions Rs. 500 minimum remittance amount from the fixed deposit; amounts in excess rounded off to the nearest Rs. 100 Rs. 500 minimum withdrawal by cheque only; amounts in excess rounded off to the nearest Rs. 100 No interest paid if deposit is closed within 15 days from the initial investment The account can be opened by individuals, firms, corporate bodies, clubs, and associations Apply

Cumulative Deposit Certificate (DCDC) Dhanam Cumulative Deposit Certificate (DCDC) returns quarterly interest that is added onto the principal amount. Both the cumulative quarterly interests and the principal amount are paid on maturity of the deposit.

Features Terms Apply Minimum deposit of Rs. 100 or multiples thereof Deposit period between 6 and 60 months. Subsequent multiples at 3 month intervals are permitted Rate of interest as applicable to term deposits Minimum remittance of Rs. 500, amounts in excess rounded off to the nearest Rs. 100 Rate of premature penalty as applicable to the term deposits Till 31st May,2010 For premature closure within one year -> 0.50% For premature closure after one year -> 1.00% Rate of premature penalty as applicable to the term deposits From 1st June,2010 For premature closure - 1.00% 90% of the balance in the account can accessible as a loan The account can be opened by individuals, firms, corporate bodies, clubs, and associations Apply

Laxmi Recurring Deposits The Laxmi Recurring Deposit allows for the investment of a small initial amount with recurring additions on a monthly or quarterly basis for a predetermined fixed period of time. Interest accrued is added to the balance on a quarterly basis, which is then added to the invested amount. The principal and the cumulative interest is paid on maturity of the deposit.

Features Eligibility Apply Minimum deposit of Rs. 50 or multiples thereof Deposit period between 6 and 60 months, with subsequent multiples at 3 month intervals Rate of premature penalty as applicable to the term deposits Till 31st May,2010 For premature closure within one year -> 0.50% For premature closure after one year -> 1.00% Rate of premature penalty as applicable to the term deposits From 1st June,2010 For premature closure - 1.00% 90% of the deposit balance accessible as a loan The account can be opened by individuals, firms, corporate bodies, clubs, and associations Apply

Sri Dhana Chakra Deposit The Sri Dhana Chakra Deposit allows for automatic renewal of the deposit on maturity. Starting out with a relatively higher initial investment, it allows for deposits for any period of time with no upper limit.

Features Eligibility Apply Higher rate of interest as compared with regular fixed deposits Minimum deposit of Rs. 5,000 Minimum deposit period of 15 days Rate of interest in accordance with RBI directives, as applicable, that are subject to change without prior notice to the depositor Automatic renewal on expiry for a period decided by the depositor No interest applicable if the deposit is closed 15 days before the last renewal; the amount repaid will be the balance available in the account at the end of the last maturity of the deposit The account can be opened by individuals, even in the name of minors jointly with their guardian, and by corporate bodies, institutions, and public or private sector organizations Apply

Insta Money The Insta Money Scheme allows 90% of the deposit to be used as an overdraft, provided this is done simultaneously with the opening of the term deposit.

Features Eligibility Apply A fixed deposit with 90% of the deposit withdraw able by cheque as an overdraft Minimum deposit of Rs.10,000 Deposit period between 15 days and 60 months Additional interest of 1% above the rate applicable for the deposit, for any amount withdrawn as overdraft Premature closure allowed, without interest if the depositor withdraws within 15 days from the date of the deposit Interest charged at normal rates, as applicable, to advances for any balance in overdraft limit Overdraft account must be opened simultaneously with the deposit account, with 90% of the deposit as limit for the overdraft facility Quarterly interest on fixed deposits transferred to the overdraft account during overdraft period Overdraft amount can be repaid at any time Interest debited to the overdraft account must be cleared every month Interest rates subject to change without notice The account can be opened by individuals, firms, corporate bodies, clubs, and associations Apply

Tax Advantage Dhanam Tax Advantage bundles tax benefits, a considerably higher rate of interest and a higher minimum period of than most term deposits.

Features Eligibility Apply 7.25 % interest per annum Tax exemption of up to Rs. 1 lakh per year, under Section 80 C of the Income Tax act Minimum deposit of Rs.100 and maximum of Rs. 1 lakh per year Deposit period between 5 and 10 years Permanent Account Number (PAN) needed to open the account No premature encashment up to 5 years Other rules pertaining to Term Deposits applicable to this scheme as well Single accounts can be opened by individuals and the Karta of a Hindu undivided family (HUF) while joint accounts can be opened by adults as well as a minor and their guardian. Apply

Surabhi Deposit The Surabhi Deposit helps minimize loss of interest on premature closure. It has a higher initial investment than most deposits and allows higher deposits to the existing term deposit.

Features Eligibility Apply Flexible term deposit with reduced loss of interest for premature closure of the deposit Minimum balance of Rs. 25,000 with additional deposits in multiples of Rs. 1,000 Free cheque book with a savings bank account or a certificate of deposit account Deposit period between 15 days and 3 years Interest rates in accordance with RBI directives, as applicable, that can be changed without prior notice Withdrawals in multiples of Rs. 1,000 Cheques can be issued for this deposit just as for a normal savings account or certificate of deposit account Automatic renewal on maturity, as specified by the depositor Premature closure is allowed by following the instructions applicable to term deposits The account can be opened by individuals, firms, corporate bodies, clubs, and associations Apply

Senior Citizen’s Deposit The Senior Citizen's deposit is designed to provide senior citizens with extra protection through an additional rate of interest over the normal interest rate.

Features Eligibility Apply 0.50% interest rate on term deposits in addition to the normal interest rate with effect from 12 October 2009 At par collection of 1 instrument for value up to Rs. 5,000 once a month Issue of demand draft up to Rs. 5,000 once a month Indian nationals aged 60 and above. Apply

MaxiGain Fixed Deposit (FD) MaxiGain FD helps you to break away from the traditional fixed deposit. Its unique feature gives you the convenience to access your funds anytime, anywhere through multiple channels while you enjoy higher returns on your deposit. So, look beyond locking your funds and upgrade from the traditional fixed deposit to a 'flexible' MaxiGain FD Click here to view FAQs on Maxigain FD

Apply Apply

Copyright© 2010 - The Dhanalakshmi Bank Ltd. All rights reserved.