The principal amount together with interest is repaid on maturity of the deposit. Yield on these accounts is distinctly higher because of compounding of interest at quarterly intervals. All conditions detailed above for Special Term deposits apply for Cash Certificate Deposits. Excellent for long term planning. A recurring deposit scheme Fixed sums are deposited every month for a fixed period.
Compound interest is payable at the same rates as applicable to other term deposits.
Loan facility available. The deposit will be held in units of Rs. 1000 each. Interest rate will be as for NRE term deposits. Principal and interest entirely repatriable. Units can be withdrawn any moment.