SubcoBank :: Interest Rates

W.e.f. 01/05/2024

With a minimum deposit amount of Rs.1000/- money can be deposited for minimum period of 12 months and maximum of 120 Months

Interest rates offered on all deposits of the Bank are more compared to Nationalised Banks and Scheduled Banks
Senior Citizens Deposits for period more than 1 year are offered extra 0.50 % p.a. than the prevailing rate of Interest
All deposits upto Rs. 5,00,000-00 per individual is covered by the Deposit Insurance & Credit Guarantee Corporation of India (RBI Subsidiary Unit).
Instant amount transfer to other Banks through RTGS/NEFT facility available and 24X7 NACH Clearing services also available
All Deposits are having nomination facility
Members/Customers are sanctioned instant 85% loan against the Term Deposits made by them
Safe Deposit Lockers at minimum rent available at all Branches
Medi-Aid facility upto Rs.10,000/- to the Regular Members who suffer from Chronic disease

Your contribution of Rs.1000.00 every month yields a sum as under (W.e.f. 01-05-2024)

Interest Per Annum (W.e.f. 01-05-2024) Face Value Rs.1000.00

Deposit Period	General (Effective Rate of Interest)	Senior Citizens (Effective Rate of Interest)
12 Months	6.70	6.70
15 Months	8.32	8.88
24 Months	8.70	9.30
36 Months	8.33	8.93
48 Months	8.33	8.98
60 Months	8.64	9.36
72 Months	8.98	9.75
84 Months	9.34	10.16
96 Months	9.71	10.60
108 Months	10.10	11.06
120 Months	10.51	11.55

Daily Collection will be made at the doors of Depositors by the authorised agents of the bank

Premature Closures	Interest
After 9 months upto 12 Months	No Interest
1 Year to 2 Years	2.00%
2 Years to 10 Years	3.00%
Note: Account closed before 9 months , 2.50% of the deposit amount is deducted as commission

Interest Per Annum (W.e.f. 10-05-2021)

Deposit Period	General	Senior Citizens
For Savings Account	3.00	3.00