- Facility to pay amount on daily basis with drawable after one year.
- Slab wise Rate of Interest on deposits
|Within 1 year||Nil|
|Above 1 year and Upto 3 years||2.5 % per annum|
|Above 3 years and Upto 5 years||3.5 % per annum|
|Above 5 years||4.5 % per annum|
- Pre closure is allowed in the case of pigmy accounts with penalty.
- Loan carrying interest at 12 % p.a would be granted up to 75 % on the actual pigmy deposit at Branch Manager’s level. The minimum amount of loan is Rs. 5000/- and maximum is Rs. 75,000/-
- Standing Instruction can be obtained from intending SB / CA holders for daily transfer to Pigmy Account to encourage savings.
- All payments should be routed through SB / CA or by issuing Pay Orders only.
- KYC norms are to be strictly fulfilled. Customers are required to furnish ID / Address proof as minimum requirement under KYC.