Deposits

All deposits made in Karassery Bank are guaranteed by Government of Kerala by virtue of "Kerala Co-operative Deposit Guarantee Scheme - 2012."

Term Deposits

Karassery Bank offers various ranges of Term deposit that suits investor's requirements in the form of Fixed Deposits, cash certificates and Recurring deposits where interest is paid to investor's at regular intervals, Cash Certificate Deposits scheme is where interest gets compounded and accumulated in principle investor receives an accumulated maturity amount at the end of tenure of deposits. Karassery bank also help investors to cultivate the habit of monthly savings with the help of its Monthly Recurring Deposit schemes where investors can even start with a very nominal amount of Rs. 100 per month.

Features:

Various Term Deposit Scheme Available With Us Includes

  • Fixed Deposits (FD) - Interest is paid to investor's at regular intervals
  • Cash Certificate Deposits (CCD) - Interest gets accumulated in principle investor receives an accumulated maturity amount at theend of tenure of deposits
  • Recurring Deposit (RD) - Schemes where investors can even start with a very nominal amount of Rs. 100 per month

deposit

Rate of Interest on Term Deposit applicable from 1st  January 2016.

Fixed deposits
Maturity period Existing Rates (w.e.f 01/01/2017)
Gen. Public (p.a.) Sr. Citizens (p.a.)
15 Days to 45 Days 6.50% 7.00%
46 Days to 90 Days 7.50% 8.00%
91 Days to 179 Days 8.00% 8.50%
180 Days to less than 1 Year 8.50% 9.00%
1 Year and above 9.00% 9.50%
Two Year and above 8.75% 9.25%
CCD
1 year and above 8.50% 8.50%
2 years and above 8.25% 8.25%
KBPF/Akshaya Samrudhi/Pratheeksha
8.25% 8.25%
RD
1 year and above 8.50% 8.50%
2 year and above 8.25% 8.25%

Document Required For Opening a Term Deposit

  • Account opening form, duly signed by the account holders
  • Introduction from existing account holder
  • Photograph of account holders
  • Photo identity such as photocopy of PAN Card, Driving License
  • Proof of residence in the form of photocopy of Ration Card, Electricity / Telephone bill, etc.

Term Deposit Account can be opened by

  • Individual - Single or Joint
  • Minors - with Guardian
  • Regd. Societies Trusts
  • Hindu Undivided Families (HUFs)