Hassle-Free Renewals: At the end of the deposit tenure, your principal and interest can be automatically reinvested for the same period, allowing your money to grow continuously without any manual intervention.
Flexible Tenure Options: Choose from a range of tenures that suit your financial needs, starting from 12 months and up to 120 months, with options to renew for the same or a different period.
Attractive Interest Rates: Benefit from competitive interest rates that are applied to the renewed deposits, ensuring your savings continue to earn maximized returns.
Nominal Pre-closure Charges: If you need to withdraw the deposit before maturity, you can do so with nominal pre-closure charges.
Standing Instruction Option: Opt for standing instructions to ensure that your savings account is linked for easy renewal management.
Who Can Open an Account?
Individuals (singly or jointly), guardians on behalf of minors, companies, associations, clubs, and charitable organizations can open an account under the Automatic Renewal Scheme.