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UAR Nidhi Fixed Deposit Scheme
A fixed deposit is a type of deposit in which a sum of money fixed at an agreed rate of interest locked for period of time.
With your saving deposits Account the interest will be credited. Using your bank account, the savings will be credited. There is an availability of monthly schemes which will be credited within 90 days and there is another scheme which will be credited within 30 days. An individual Name or Jointly can be opened there fixed deposits. According to the period, general citizen, the senior citizen the rate of interest is offered on Fixed Deposits.
The minimum period is 12 months and the maximum period is 60 months.
The minimum amount of deposit is Rs.1,00,000
Interest can be credited to the accounts with any bank at free of cost.
No TDS on interest up to Rs.5000/annum.
Pre-closure of deposits is allowed only after completion of 3 months.
No interest will be paid if-then deposit is pre-closed before 6 months.
For Pre-closure of deposits after 6 months, interest for the deposit will be paid to the rate applicable for the period the deposit has remained with us less than 2%.
Nomination facilities are available for all deposits accounts.
The revised rate of interest offered on Fixed deposits in Chennai for different terms are:
| Period | General Citizen | Senior Citizen (60yrs) |
| 12 months | 9.25% | 9.75% |
| 13 months-35 months | 9.20% | 9.70% |
| 36 months-60 months | 9.35% | 9.85% |
| 60 months special RD | 9.99% | 10.5% |