• 02692 232340, 237574, 238347
  • info@vvccbank.com
Eligibility- Current Account can be opened by below listed entities.
  • Sole Proprietary Concerns
  • Partnership Concern
  • Limited Companies
  • Associations, Clubs, Societies, etc.
  • Trusts
  • Municipalities
  • Government and Quasi-Government Bodies
  • Limited Liability Partnership (LLP)
  • Panchayat
  • Religious Institutions
  • Educational Institutes (including Universities)
  • Charitable Institutions
* (W.E.F 01-09-2020)

Regular Term Deposits

Rate of Interest

Remarks

45 Days to 90 Days 4.00% Premature Without Penalty
91 Days to 180 Days 4.50%
181 Days to 364 Days 5.00%
1 Year and Above Upto 3 Years 5.50% 0.50% More Interest for Senior Citizens Premature encashment will attract 1.00% penalty
Above 3 Years 5.25%

Note

  • Customer will get interest on Monthly / Quarterly / On Maturity interval on Fixed Deposits.
  • TDS will be applicable @7.50% (Due to COVID-19, Govt. give relaxation 2.5% up to 31st March 2021), if interest paid on Fixed Deposits / Recurring Deposits equal to or more then Rs. 40,000/- [General] / 50,000/- (Senior Citizen) 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. (Rs. 2,50,000/- [General] / Rs. 3,00,000 [Senior Citizen] / Rs. 5,00,000 [above 80 Years])
  • TDS is applicable from June 1, 2015 for financial year 2015-16 (For Depositors of Co-Operative Banks).
  • Premature payment will be allowed only with consent of all joint holders. Interest will be paid at 1.00 % less than for particular period.
  • Depoist Up to 5,00,000 cover under DICGC