Term deposit can be opened with minimum of Rs.5, 000.00 for a minimum period of 3 months to the maximum period of 6 years. Term deposits are repayable on a term due date. This due date is called maturity date.
Features of Term Deposit
Monthly and quarterly scheme
Interest on the Term Deposit can be drawn every month or every quarter depending on the monthly and quarterly scheme.
Else interest can be drawn on the maturity date of the Term Deposit. The interest will be calculated cumulatively.
Loan against Term Deposit
80% of loan can be drawn on the deposited amount. Only 2% added interest will be charged.
Jyestha Nagarik Term Deposit Scheme
This scheme is for the citizens of 58 years and above. It features ONE month interest bonus as "Dashain Kharcha" in LAFIN's regular interest rates.
Ekal Mahila Term Deopsit Scheme
This scheme is for the single women. It features ONE month interest bonus as "Dashain Kharcha" in LAFIN's regular interest rates.