Re-investment Plan deposit scheme is long term fixed deposit scheme, in which the interest is compounded every quarter by way of reinvestment. Thus the scheme generates a large sum of money at the time of maturity. The scheme meets any expenditure in future like children’s education, marriage etc. the need for a safe long term investment.

• Eligibility
  • Resident Individuals
  • Sole Proprietorship Firms
  • Partnership Firms
  • Limited Companies
  • Trust Accounts
  • Association / Clubs / Societies


• How to open

  Should submit the dully filled & signed Account opening form along with;

  • Specimen Signature.
  • Photograph of the operator.
  • ID proof of operator as per KYC norms.( (a) Passport (b) Ration card containing Photograph (c)
    Driving License (d) PAN card (e) Voters Identity card (f) Unique Identity card issued by the Government
    of India.)
  • Address proof.
  • Business proof from panchayath/ partnership deed / trust deed/ Articles of association / Registration Certificate / byelaws / minutes copy / authorisation letter
  • Proper introduction
  • PAN card copy for deposits more than   ` 50000/-
  • Initial deposit


• Facilities
  • Nomination facility is available on RIP A/cs
  • The Bank allows loan to the depositors up on the security of the RIPs at a maximum amount of 90% of the amount deposited. For more details about deposit loans please visit the page ‘ deposit loan ’ in this site.
  • Due date will be recorded on the deposit receipt to enable the depositor either to renew the deposit or receive payment of the amount due.
  • Standing instruction facility for transferring the monthly/quarterly interests to a particular SB/Current Account is not allowed upon RIP A/Cs.


• Interest Rates

  The rate of interest offered to the RIP account will the rate prevalent to the term deposits for the corresponding periods of maturities, may vary from time to time. Please visit the page of Interest rate on deposits.



• Premature Closing

  The bank may, at its discretion, consider payment of the deposit before the due date subject to the penal provisions applicable from time to time.