Features and Benefits of Exim Bank Term Deposit Scheme:
- The benefit of future increases in interest rates will be available to the existing term deposits for the residual period (above one year) till maturity at the interest rate applicable to the residual maturity period, without any action on the part of the depositor.
- In case the existing rate on a deposit (contracted based on original maturity at the time of placing deposit) is higher than the revised rate applicable to the residual tenor, then the original higher rate would continue to apply.
- Senior citizens (Persons of above 60 years of age) and disabled persons are paid additional 0.50%p.a.
- Interest compounded on quarterly basis.
- Minimum Deposit of Rs.10,000/- and in multiples of Rs.1,000/- thereafter.
- Cheques/Demand Drafts to be drawn favouring ‘Exim Bank Term Deposit Account’.
- A deposit may be made under Cumulative Interest Option or Non-cumulative interest Option.
- Under the Non-cumulative Interest Option, interest on the deposit will be compounded quarterly and paid every half year.
- Interest Rate effective from July 20, 2011
|Period (months)||Annual Interest for deposit < 1 Crore||Annual Interest for deposit >= 1 Crore|
|12 – 36||9.25%||8.25%|
|37 – 60||9.00%||8.00%|
Know more about the scheme by downloading the form below.