Cumulative Deposit

Cumulative Deposit

Whether you want to accumulate wealth for a secure future, prepare for your child's higher education or save a regular sum of money every month for that special dream of yours, CSB's Cumulative Deposits can help you end up with a large kitty on maturity without taking on any of the risks that market-related investments entail. A great product for regular savers and systematic investors seeking guaranteed and risk-free returns.

Features

In case of minors, accounts can be opened:

  • The account can be opened with a minimum monthly remittance of ₹100 or multiples thereof. Remittances may also be in odd sums.
  • Account can be opened for a minimum period of 6 months and in multiples of 3 months.
  • The maximum period for which term deposits are accepted is 10 years.

- In the single name of the minor under guardianship, the deposit being repayable to the minor.

- In the single name of the minor under guardianship, the deposit being repayable to the guardian.

- In the name of the minor, jointly with the guardian, the deposit being repayable to them jointly /former or survivor /either or survivor

Benefits

  • Enables depositors to build up a sizeable corpus in a regular, systematic manner.

Exceptions

  • Deposits accepted under Court orders.
  • Deposits in the names of minors for protection of minor's interest.