Term Deposits
Term Deposits
For all term deposits under Non IBA Scheme, Interest is calculated for actual number of days reckoning the year at 366 days in a Leap year and 365 days in other years. For deposits under cumulative scheme, compounding is done on calendar quarter basis.
Apply NowOverdraft/loan against deposit
Accepted as a Security by Government Department
Accepted as margin for non-fund based facilities
Nomination facility is available
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. Its guaranteed Returns,
Stay invested for a fixed period. DCDC is perfect option for your short term
and long term investment needs. Open online fixed deposit through our Digital
Channels.
Tax Advantage
Dhanam Tax Advantage Deposit offers tax exemption under Sec 80C of IT Act.
You may choose our
Dhanam Tax Advantage Deposit for getting Dual
benefit. Saving tax while earning interest. As per Section 80C of the Income
Tax Act, deposits with an investment tenure of 5 years fall under the tax
exempt category. You can claim a deduction of up to Rs 1.5 lakhs in a financial
year. The principal amount you invest is exempted from taxation.
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.
Specially for people
over the age of 60, Avail special senior citizen deposit with maximum returns
on investments. We offers safety, liquidity, flexibility and assured returns.
Laxmi Recurring Deposits
The Laxmi Recurring Deposit allows for the investment of a small initial amount with recurring additions on a monthly 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.
Manner of Calculation of interest: For all term deposits under Non IBA Scheme, Interest is calculated for actual number of days reckoning the year at 366 days in a Leap year and 365 days in other years. For deposits under cumulative scheme, compounding is done on calendar quarter basis.
For all term deposits under IBA Scheme, Interest is calculated reckoning the month at 30 days and year at 360 days. For deposits under cumulative scheme, compounding is done on anniversary quarter basis. For Broken period interest is calculated for actual number of days reckoning the year at 365 days.