Deposits

November 28, 2025

Deposits

  • A savings deposit encourages people to save money and accumulate their savings while also offering several additional banking services.

SAVINGS ACCOUNT TYPES & FEATURES

Account Type / Parameter Description
Regular Savings Account Regular Savings Accounts are ideal for individuals with standard features including cheque book, ATM, mobile banking, and UPI.
Basic Savings Bank Account Bank has zero balance accounts for financial inclusion with banking services facility.
Senior Citizen Account Exclusive interest benefits and priority services for senior citizens.
Minor Account Savings account for children operated by guardian.
Women’s Account With standard features including cheque book, ATM, etc.
Salary Account Convenient salary credit account for employees with Rs.500/- minimum balance.
Pension Account Account for pensioners with hassle-free pension credit and withdrawal.
Zero Balance Account Without minimum balance requirement.
Special Savings Schemes Special Malayàrasi RD scheme for women with additional excess ROI.
Interest Rates Bank gives 3% interest rate for savings bank accounts.
Minimum Balance Minimum balance of Rs.500/-
Transaction Limits ATM: ₹10,000 per transaction; ₹20,000 per day.
Withdrawal slip limit below ₹50,000.

  • A current deposit is a type of account used for fast personal transactions. It allows the people of Nilgiris to make quick outward and inward money transfers.

  • A Recurring Deposit (RD) allows customers to build savings through fixed monthly or yearly deposits for a specific period.

  • In a Fixed Deposit, a lump-sum amount is deposited with the bank for a fixed tenure at an agreed interest rate. At the end of the term, you receive both the principal amount and the accumulated interest.

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