- secretary@palakkadscb.org
- G.B. Road, Palakkad 678001
- Free Consultation :(0491) 254-5907
THE PALAKKAD SERVICE
CO-OPERATIVE BANK LTD. NO. F1200
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SAVING BANK DEPOSIT : Bank accept small savings from account holders under this deposit.There deposits are maintained by banks in order to mobilize the small savings of the people . 4.5% yearly interest is allowed to this deposit . Depositor can withdraw the deposit through cheques or directly by withdrawal slips.Initial Amount for opening this account is Rs.250.00 with out cheque book,Rs.1000.00 is for with cheque book.This is also the minimum Balance for the account.Computerised Passbook printing will be supplied to all accounts showing the details of transactions
RECURRING DEPOSIT: It is a monthly savings deposit. After a particular period the principle amount along with compounded interest will be refunded. Minimum rupees in 100 rupees and multiples. Loan facility are allowed up to 75% the balance amount.Pass book will be provided to these deposits.
CURRENT DEPOSIT: A customer is allowed to draw cheques and withdraw money from their deposits at any time. The deposit are withdrawn whenever the customer wants to withdraw. Current account deposits are with drawable or payable on demand. Bank generally do not pay interest for their accounts. Then accounts are mainly meant to meet the requirements of business people who frequently operate their accounts. There is no restrictions in the number of withdraw also of deposits and as such this very well suits the traders, businessman etc. who frequently make payments by means of cheques. Computerised Passbook printing will be supplied to all accounts showing the details of transactions.
FIXED DEPOSIT: Under this deposit a customer agree to deposit his money with the banker for a fixed period. A fixed deposit is a contractual liability of the bank entered with the depositor to pay at a fixed or determinable future date the amount of money deposited plus interest accrued share on. The depositor can withdraw the money from the bank only after the expiry of the agreed period. The period of deposit is minimum of 31 days to maximum of 5 year. Bank generally pay a high rate of interest for this deposits as the banker in free and sure to use them within the period fixed. A fixed deposit receipt is a negotiable instrument and therefore cannot be transferred by endorsement by a depositor infavour of another. Interest will be given monthly , quarterly or at end of the deposited period. Senior citizen will be given 0.5 % extra interest for this deposit from 6 months. Premature withdrawal is permissible with loss of interest.
SWAYAMVARDHINI DEPOSIT: Like a fixed deposit Swayamvardhini deposit agree to deposit its clients money with the banker for a fixed period . Monthly interest will not be given for these deposits. Interest will be calculated as simple interest rates.Premature withdrawal is permissible with loss of interest.Minimum deposit amount is Rs.1000.00 and there is no maximum limit .Senior citizen will be given 0.5 % extra interest for this deposit.There is great flexibility in maturity period and it ranges from 1 to 2 year only .
Provide commendable services to the Banking and Non banking sectors for the last 75 years successfully with remarkable records
Palakkad Service Co-operative Bank Ltd.
No. F 1200, G.B. Road, Palakkad -1
Phone : (0491) 254 5907
Branches :
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