Contai Co-operative Bank Limited

CONTAI CO-OPERATIVE BANK LTD.

SCHEMES

Contai Co-operative Bank has many different attractive Deposit and Loan Schemes.

DEPOSIT SCHEMES

Savings Bank Accounts
Minimum balance Rs: 300/- .For No Frill Accounts Minimum Balance 0/-
No service charges.
Savings bank accounts without cheque book minimum balance Rs.300/-
Savings bank accounts with cheque book minimum balance Rs.500/-
Interest Rate 3.5%

Current Accounts
Minimum balance Rs: 3000/-. (Other than Burrabazar Br.) . For Burrabazar Br Minimum Balance Rs. 10,000 /-
No service charges.
Without cheque book minimum balance Rs.3000/-
With cheque book minimum balance Rs.3000/-

Daily Deposit Scheme
No service charges.
Interest Rate 2%

TERM DEPOSIT SCHEMES

Fixed Deposit

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Short Period
Minimum Period 15 Days
Maximum Period 359 Days

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Quarterly Interest
Minimum Period 1 Year
Maximum Period 10 Years
Interest will be paid Quarterly at contracted rate.

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Monthly Interest (Discounted Method)
Minimum Period 1 Year
Maximum Period 10 Years
Interest will be paid Monthly

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Recurring Deposit
Minimum Period 1 Year
Maximum Period 10 Years
Interest will be paid at the time of Maturity or Premature closure.

CALCULATE

Cash Certificate
Minimum Period 1 Year
Maximum Period 10 Years
Interest will be paid at the time of Maturity or Premature closure.

Interest Rate Chart for Term Deposits (w.e.f. 01/12/2009)

Period in Days

Interest Rate

General *

Senior Citizen **

15 to 45

3.50%

Nil

46 to 90

4.00%

Nil

91 to 179

5.00%

Nil

180 to Less Than 1 Year

6.00%

Nil

1 Year to Less Than 2 Years

7.00%

7.50%

2 Years to Less Than 5 Years

7.50%

8.00%

5 Years to 10 Years

6.75%

7.25%

* This Rates are also applicable to Recurring Deposits, Cash Certificate (for period 1 year and above) as per scheme of the Bank. For Fixed Deposit for a period less than 1 year a new product 'FDRD' to be introduced and calculation of interest is done reckoning a year = 365 days. In all other cases the calculation of interest to be made on equal monthly basis taking into a year = 360 days. (upto complete quarter)

** The Rates are applicable to Fixed Deposits only. The mode of Calculation of interest will be as above.

PENAL RATE OF INTEREST FOR PREMMATURE WITHDRAWAL OF DOMESTIC TERM DEPOSITS w.e.f. 03.10.2006

1. No interest will be paid on deposits which are closed before 15 days and as such the question of charging penal interest does not arise.

2. The deposit which is intended to be closed on or after 15 days, 1% penalty will be charged on the applicable rate for the period for which the deposit remained with bank.

3. No penal interest will be charged for premature closure of term deposit including the recurring deposit and daily deposit if the proceeds are intended either payment to the survivor / nominee of the deceased depositor or the same is intended for reinvestment with Bank for a period longer than the unexpired portion of original contract. (Date of original contract to be noted on the receipt). Provided that if the deposit after reinvestment is withdrawn before the expiry period of original contract, the penalty of 1% to be levied from the date of original contract upto the date of premature withdrawal after reinvestment. If the premature is made after the due date of original contract then penalty at the aforesaid rate to be levied from the date of reinvestment to the date of withdrawal after reinvestment.

Payment of Interest on Overdue Deposits ( w.e.f. 03.10.2006)

1. Where the overdue period does not exceed 14 days:
i) The deposit shall be renewed for a period as per option of the depositor from the date of maturity.
ii) The rate of interest to be applied will be the rate ruling on the date of maturity of deposit relevant to the period of renewal.

Where the overdue period exceeds 14 days:

The deposit will be renewed for future period as per option of depositor from the date of presentation.
The rate of interest to be applied for overdue period will be segregated into two parts as under.

Part A. Upto the day just before the date of presentation (Irrespective of the type of original deposit): At simple interest only on matured proceeds, at the rate whichever is lower of the following two:

a. The rate prevailing at the time of maturity of the deposit for the overdue period.
Or
b. The rate prevailing at the time of presentation for the overdue period.
Part B. From the date of presentation to the future date of maturity: At the rate prevailing on the date of presentation for renewal at simple or compound basis at the option of the depositor.

3. Interest on Proceeds of Matured Term Deposit left unclaimed will attract Saving Bank rate of interest.

Salient Features of the Senior Citizen deposit Scheme
Tenure of the Scheme	1 year and above
Rate of Interest	7.25% ~ 8.00%
Frequency of computing interest	Quarterly/ Monthly
Investment to be in multiples of	Rs.1000/-
Minimum eligible age	60 years and above (55 years or above for those who have retired under a voluntary or a special voluntary scheme provided investment is made within 1 month of date of receipt of retirement benefits. For retired personnel of Defence Services (excluding Civilian Defence Employee) – No age limit.
Age proof document	The Branch should satisfy about the age through verification of any of the following documents: Affidavit-cum-indemnity PAN Card School leaving certificate indicating date of birth LICI Policy Voter Identity Card Pension Payment Order Birth Certificate issued by the competent authority Passport
Facility of Premature Withdrawals	Available with penalty as applicable to general deposits.
Transferability feature	Generally not available, because the depositor will not be able to withdraw interest amount periodically defeating the very purpose of the scheme. However Loan against the receipt in the name of the Depositor can be allowed as per norms of the Bank.
Nomination Facility	Available.
Mode of Holding.	Generally single. In case of joint account with spouse only having full share to the first applicant, age of the first applicant/depositor is the only factor to decide the eligibility to invest under the scheme. There is no age bar/limit for the second applicant/joint account holder. In case of the death of the depositor, 2nd applicant will be allowed to continue upto the maturity.

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