The South Canara District Central Cooperative Bank will offer special fixed deposit rates for Dasara and Deepavali festivals, said SCDCC Chairman M.N. Rajendra Kumar here on Monday, September 26.
Addressing presspersons, Mr. Kumar said the bank will offer an interest of Rs. 6.5% for the deposit made for a term of one to two years. An interest of 8% will be offered for deposit of over ₹25 lakh for a term of three to five years.
“The special interest rate has been taken by taking into the consideration the repo rate fixed by the Reserve Bank of India,” Mr. Kumar said. The bank will offer 0.5% more interest to fixed deposits by senior citizens, ex-servicemen and women. Senior citizens will be offered 0.25% additional interest to deposit of over ₹10 lakh. “This will be beneficial to senior citizens in use of their retirement benefit funds,” he said.
It will offer home loan for up to ₹25 lakh at the rate of 9.5%, and for more than ₹25 lakh at the rate of 8.95%. It will offer home loan of a maximum of ₹75 lakh. Gold loan was being offered for 90% of the value of the gold ornaments at a monthly interest of 0.7%.
Bank on Wheels facility will shortly start in Udupi district. A new building of SCDCC branch in Siddapura in Kundapur taluk of Udupi district will be opened in October. The bank will shortly provide debit cards to its customers and offer them Inter Bank Mobile Payment System facility. Customers will be given internet banking facility this year, Mr. Kumar said.
