PMC Bank Rd Rates

I want to know the Rate of Interest on Term Deposits of Punjab & Maharashtra Co-operative Bank Ltd so can you please tell me?

[Shaleen]

Punjab & Maharashtra Co-operative Bank is a Multi-State Scheduled Urban Co-operative Bank with its area of operation in the States of Maharashtra, Delhi, Karnataka , Goa, Gujarat ,Andhra Pradesh and Madhya Pradesh. The bank was established on February 13, 1984

Rate of Interest

Interest on Savings Bank A/c @ 4.00 % p.a. (w.e.f 3rd May, 2011)

Interest on term deposits to be paid Monthly, Quarterly, Half-yearly, & re-invested by quaterly compounding

Your Deposits are insured up to Rs. 1 Lakh per depositor by Deposits Insurance and Credit Guarantee Corporation, Government of India undertaking.

Rate of Interest on Term Deposits:

Period Rate Rate
Maturity Brackets For General Public For Senior Citizen W.e.f. 26/10/15 Depositors W.e.f
26/10/2015

7 days to 90 days 6.00% p.a. 6.00% p.a.
15 days to 90 days 6.00% p.a. 6.00% p.a.
91 days to 180 days 6.00% p.a. 6.00% p.a.
181 days to 270 days 7.50% p.a. 7.50% p.a.
271 days to 12 months 8.50% p.a. 8.50% p.a.
13 months to 36 months 8.75% p.a. 9.00%p.a.
37 months to 120 months 8.25% p.a. 8.50%p.a

Special Schemes

Special Schemes For General For Senior Citizen Depositors Depositors
Bal Bhavishya Scheme 8.00 % p.a.. -

Penalty of 1% p.a. levied for premature withdrawal of deposits.
Rate of interest of 6% on deposit for a period of 7 – 14 days will be given provided deposit is Rs. 5,00,000.00 and above.
Special Schemes Interest Rate
PMC 100 8.00 % p.a..

Period of deposit : 100 days

Scheme is valid from 8th March’2016 to 31st March’2016.
No Penalty for premature withdrawal of deposits.

Contact details-

Punjab & Maharashtra Co-operative Bank
Registered Office
240, Shankar Sadan, Opp. Matalachmi Hospital,
Sion (East), Mumbai - 400 022.
Tel : (022) 2401 4197 / 2401 8200