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Key Features:
- Mudaraba Term Deposit (MTD) is a profit/loss bearing account.
- Deposits are withdraw able subject to a period of notice but not on demand.
- A receipt is issued against each deposit under MTD.
- Tenure: 1 month, 3 months, 100 days, 6 months & 12 months & above as approved by the bank.
- Actual profit on the MTD will be calculated at the year-end on the basis of weightage fixed by the bank.
- Matured deposit if not encashed after maturity, the deposit shall automatically be renewed for the period it kept before.
- Investment Facility can be availed.
- Bank accepts and supports Standing Instructions
Profit Rates
|
Tenure
|
Provisional Rates of Profit
|
01 month
|
4.00%
|
03 months
|
6.00%
|
100 days
|
6.25%
|
06 months
|
6.00%
|
12 months and above
|
6.00%
|