Pigmy account
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- Facility to pay amount on daily basis with drawable after one year.
- Slab wise Rate of Interest on deposits
| Details | |
|---|---|
| Within 1 year | 2.5% per annum |
| 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 |
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- Pre closure is allowed in the case of pigmy accounts with penalty.
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- 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/-
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- Standing Instruction can be obtained from intending SB / CA holders for daily transfer to Pigmy Account to encourage savings.
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- 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.
