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VVCC Bank LTD - Recurring Schemes

Monthly Recurring Scheme Interest rates are applicable as per rates of Fixed Deposits and tenure.

Daily Recurring Scheme Interest rate @3.00% for 1 Year.

Loan Facility up-to 90% of Daily Recurring Balance @8.00%

Note

  • Customer will get interest on Monthly / Quarterly interval on Fixed Deposits.
  • 01.00 % Penal interest shall be attracted on premature withdrawal of any deposit on the applicable Rate of interest (Which means 01.00% less interest will be paid than the prevailing interest rate at the time of premature).
  • TDS will be applicable @10.00%, if interest paid on Fixed Deposits / Recurring Deposits equal to or more then Rs. 10,000.00 in a financial year and PAN card submitted.
  • If PAN card is not submitted TDS will be deducted @ 20.00%
  • Customer may submit form 15G / 15H along with PAN card for no deduction of TDS, if total taxable income of the customer does not exceed basic limit of Income Tax.
  • TDS is applicable from June 1, 2015 for financial year 2015-16 (For Depositors of Co-Operative Banks).