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Scheme Detail

• Open to all government employees, both existing and retired, with valid ID proof.
• Effective rate of interest : 11% p.a., available with simple and quarterly compounding options.
• Senior Citizen’s (aged 60+): Additional 0.5%, resulting in an effective rate of 11.50% p.a.
• Bulk Deposits (10 lakh and above): An extra 0.5% p.a.
• Note: If eligible for both senior and bulk deposit benefits, only one additional 0.5% can be availed.
• While premature withdrawal of deposits is permitted, a penalty of 2.5% p.a. on the applicable rate for the expired period of the deposit will be applied, ensuring the scheme’s stability and integrity.
• Closure Before One Quarter: Simple interest for the elapsed period, minus a 2.5% penalty. •
• Closure After One Quarter but Before One Year: Regular interest rate, compounded quarterly, for the elapsed period, minus a 2.5% penalty.
• Closure After One Year but Before Maturity: Reinvestment deposit interest rate, compounded quarterly, for the elapsed period, minus a 2.5% penalty.
• Loan Facility: Depositors can avail themselves of loans against their deposits, up to 90% of the deposit amount, at an interest rate 2% higher than the deposit rate, providing liquidity and financial flexibility.