Pigmy account

    • Facility to pay amount on daily basis with drawable after one year.
    • Slab wise Rate of Interest on deposits
Details
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.