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

• 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.

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.
• In case of minors, accounts can be opened:
• 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