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ARUNACHAL PRADESH STATE CO-OPERATIVE APEX BANK LTD

(Sponsored by Government of Arunachal Pradesh)

Head Office :: D-Sector, Naharlagun, District : Papum Pare, Arunachal Pradesh - 791 110

NSTFDC     CMFMP     Micro Finance SHG

The rate of interest on domestic deposit are revised an applicable on the account
open or renewed on or after 01.01.2016. Till further order.

INTEREST RATES ON DEPOSITS (PER ANNUM)
.

The following types of ADDS Accounts can be opened

  1. Individuals Account on his/her behalf.
  2. Joint Account by two or more persons to be operated by any one or more or survivor/survivors.
  3. Minor Accounts below the age of 14 yrs to be operated by parents/Guardian, with a provision to operate the account by the minor after attaining 14 yrs of Age. by declaring the date of birth of the minor.
  4. Registered Clubs, Associations, Charitable and Religious Institutions – subject to submission of rules, bye-laws and other KYC documents of the authorized.
  5. Co-operative Societies, NGO’s, SHG’s and Farmer Club’s etc-subject to submission of rules,bye-laws and other KYC documents of the authorized.
  6. A HUF, a partnership firm, proprietary concern, charitable institution/ Trust, a company or Association etc.

Amount of daily Deposit
A minimum deposit of Rs.50.00 is to be paid to open the account and the depositor shall deposit equivalent amount on a daily basis uninterrupted for entire period for which the account is opened. No limit of maximum amount fixed.

Pass-Book

  1. In case of loss of  pass book, the Bank should be informed immediately. Duplicate  pass book will be issued subject to payment of charges.
  2. Depositors shall always keep their Pass-book in safe place.  The Bank will not be held responsible for any loss or wrongful payment on account of non-compliance of this rule by the depositor.
  3. The Pass-book should be up-dated at regular intervals from the bank.
  4. On receipt of a Pass-book, all entries in the Pass-book should be carefully examined and discrepancies, if any, such as errors/omissions/unauthorised debits and credits should be brought to the notice of the Bank, failing which the entries made in the Pass-book will be deemed to be correct and shall be binding on the depositor for all intents and purposes.
  5. The account holder should not on their own make any entries in the Pass-book.
  6. The Bank reserves the right to correct the entries wrongly made or found to be fictitious.
  7. Withdrawal of amount on maturity will be made through the Savings bank account of the account holderswith the branch.
  8. Drawer’s signature onwithdrawals forms in any language or script other than  Hindi or English should be made in the presence of an authorized official or the Bank.
  9. The depositor, if, unable to write shall call on the Bank and affix his thumb impression on the withdrawal form in the presence of a witness who knows the depositor and is also known to the Bank.

Rate of Interest

SlNo.

Period of Term Deposits
Existing
Rate
Revised Rate
Existing
Senior
Citizen
Rate

Senior
Citizen rate

1.
Saving Bank Account
4.00
4.00
4.00
4.00
B.
ADDS
1.
Up to 1 Year
4.00
4.00
4.00
4.00
2.
Up to 1 Year to 3 Year
5.00
5.00
5.00
5.00
C.
Term Deposit
1.
7 Days to 90 Days
7.75
5.75
8.00
6.00
2.
91 Days to 180 Days
7.75
6.75
8.00
7.00
3.
181 Days to Less than 1 Year
8.00
7.25
8.25
7.50
4.
1 Year to Less than 2 Year
9.25
7.75
9.50
8.00
5.
5 Years & above
9.25
8.25
9.50
8.50

1. The earlier order No.APSCABL/P&D/INTT/2013-14/37-46. Dated.03/04/2014.
Stands amended henceforth.
2. The above interest on deposit are higher than other Commercial Banks.
3.
4. No compound interest is payable on deposit of less than 1 year.
5. There is a provision for higher rate of interest on the bulk deposit more than
Rs.50.00 Lakhs subject to the consent /approval from Head Office.
6. For Senior citizen a copy of age prove certificate issued by the competent authority
is necessary at time of opening of the account to avail the benefit of higher interest
rates.
7. Additional rate of Interest @ of 1% p.a on the deposit account maintained by the
staffs, For this purpose, the BM must obtain a deceleration in the prescribed from
before allowing this facility so as to comply with RBI directives(Format already
issued).

8. Premature closing of Accounts:

A. In case of Premature closer of Recurring deposit/ADDS account, no interest
shall be paid on deposit of less than 6(Six) months.

B. On premature closing of all type of Term Deposit the interest shall be
payable @ 1.00% less than the rate applicable on completed period amount
remained with the bank.