Fixed Deposit

Term Deposits

Now you can earn a higher income on your surplus funds by investing those with us.We provide security, trust and competitive rate of interest.

• Flexibility in period of term deposit from 7 days to 10 years.
• Affordable Low Minimum Deposit Amount: You can open a term deposit with HCB for a nominal amount of Rs.1000/- only.
• Flexibility in choosing the amount you wish to invest and the maturity period.

Liquidity

Loan /overdraft facility: You can avail a loan/overdraft against your deposit.HCB provides you loan / overdraft upto 85% of your deposit amount at nominal cost.So you continue to earn interest in your deposit and still can meet your urgent financial requirements.

Premature Withdrawal Interest to be charged on premature withdrawal of term deposits at 0.5% below the rate applicable for the period deposit has remained with the Bank.

*Transferability – Transfer of Term Deposits between our wide network of branches without any charge.

Compounding / Flexible / Timely Payment of Interest- Under our Special Term Deposit Scheme, interest accrues in your account and gets compounded quarterly. Besides, we assure timely delivery of the proceeds of your deposit with interest, on flexibility of payment on maturity through Cash (subject to prevalent Income Tax Act), Banker’s Cheque, Credit in Savings Bank/Current account.

Tax Implications. – Tax Deductible at Source, as per Income Tax Act.

Short Deposits

A Scheme for High Return on your savings even for a short period of less than 1 year. An ideal option for all transitory savings to meet the requirements. An ideal option for all transitory savings.

• Overdraft / loan against deposit provided on demand upto 95% of deposit amount without any guarantor and processing fee, filling of any forms etc. even for 1 day and up to the maturity period of deposits to meet short term requirements and needs.
• For such advances interest shall be charged 1% over the deposit rate with monthly rests in case of depositor -borrower and in case your friends want to avail loan against your deposit the rate of interest will be a little higher depending on loan amount.
• In case you wish to take premature payment of your deposit, it is provided , however interest at @ 1 % below the rate applicable for the period deposit has run with the bank, will be paid.
• Accepted as a Security by Govt. Deptt.
• Accepted as margin for Non-fund based facilities.
• Nomination facility is available.

Flexibility to covert your Term Deposit to Special Term Deposit and vice versa

• You can convert your Term Deposit to a Special Term Deposit, which provides compounded rate of interest to multiply your money faster.
• You can also convert your Special Term Deposit to a Term Deposit to receive monthly/quarterly interest payments to match your financial requirements.

Highlights

• Safety – We understand the value of your hard earned money and continue to deliver on our promise of safety and security over 10 years.

Others:

• Special Term Deposits are available at all Branches
• Easy and convenient access of 24X7 information at Internet Banking.
• Nomination Facility – Available.

Tax Implications. Tax Deductible at Source, as per Income Tax Act.

Automatic Renewals There is no need for you to keep track of the maturity of your deposits.Your deposits with us will be renewed automatically, post maturity.And you continue to earn interest for same period as that of your matured deposit, at the interest rate prevailing at the time of maturity.Automatic renewals take place where there are no standing instructions for renewal.