Gram-MUGBANK STD(03220) Ph.No.-270222/223/657/715/716

Gram-MUGBANK STD(03220) Ph.No.-270222/223/657/715/716

THE MUGBERIA CENTRAL CO-OPERATIVE BANK LTD.

Reg.H.O. & P.O.-MUGBERIA, Pin.-721425 Dist.- PURBA MEDINIPUR

ORDER: /2016-17 DATE : 03.11.2016

(Revision of rate of interest on Term Deposits)

Pursuant to the decision adopted in the meeting of the Board of Directors of our Bank held on 26.05.2016,it is hereby notified for the information of all concerned that the rate of interest on Term Deposits be revised in the following manner with effect from 10th November, 2016.

Term
Deposit
Duration / Existing Rate
(% per annum) / Revised Rate
w.e.f. 10.11.2016
(% per annum)
For General / Senior
Citizen / For General / Senior
Citizen
Amount of Deposit less than Rs.1.00Cr / Above 1.00Cr but less than 5.00 Cr. / Rs.5.00Cr and above but less than Rs.10.00 Cr. / Rs.10.00 Cr. and above / Any Amount / Amount of Deposit less than Rs.1.00Cr / Above 1.00Cr but less than 5.00 Cr. / Rs.5.00Cr and above but less than Rs.10.00 Cr. / Rs.10.00 Cr. and above / Any Amount
07-14 days / 4.50% / 5.00% / 5.00% / 5.00% / 4.50% / 4.50% / 5.00% / 5.00% / 5.00% / 4.50%
15-29 days / 5.50% / 5.50% / 5.50% / 5.50% / 5.50% / 5.50% / 5.50% / 5.50% / 5.50% / 5.50%
30-45 days / 5.50% / 5.75% / 5.75% / 5.75% / 5.50% / 5.50% / 5.75% / 5.75% / 5.75% / 5.50%
46-60 days / 6.50% / 6.60% / 6.60% / 6.60% / 6.50% / 6.50% / 6.60% / 6.60% / 6.60% / 6.50%
61-90 days / 6.50% / 6.60% / 6.60% / 6.60% / 6.50% / 6.50% / 6.60% / 6.60% / 6.60% / 6.50%
91-180 days / 6.75% / 7.00% / 7.00% / 7.00% / 6.75% / 6.50% / 6.50% / 6.50% / 6.50% / 6.50%
181-364 days / 7.30% / 7.00% / 7.00% / 7.00% / 7.30% / 7.00% / 6.50% / 6.50% / 6.50% / 7.00%
365 days/12month / 7.30% / Negotiable / 7.80% / 7.30% / Negotiable / 7.80%
Above 12 months to less than 36 months / 7.55% / 7.25% / 7.25% / 7.25% / 8.05% / 7.30% / 7.00% / 7.00% / 7.00% / 7.80%
36 to 60 months / 7.00% / 7.05% / 7.05% / 7.05% / 7.50% / 7.00% / 7.05% / 7.05% / 7.05% / 7.50%
More than 60 months to 120 months / 6.50% / 6.50% / 6.50% / 6.50% / 7.00% / 6.50% / 6.50% / 6.50% / 6.50% / 7.00%

Contd……..p/2

PAGE - 2

Special Schemes / Existing Rate
(% per annum) / Revised Rate
w.e.f. 01.06.2016
(% per annum)

MIS Individual for 3 years

(a)For Common People
(b)For Senior Citizens / 7.50%
8.00% / 7.30%
7.80%

FUNDS OF SOCIETIES

(i)Statutory Reserve Fund, Bad Debt Fund.
(ii)Spl. Bad Debt Fund/Risk Fund and Other Fund / 7.50%
7.50% / 7.30%
7.30%

GENERAL GUIDELINES

(i)The Above rates will be applicable in case of fresh deposits and also on renewal of deposits only.

(ii)In addition to above, extra be given to the affiliated Societies @ 0.10% on F.D. (Gl.) and RIP Scheme provided 70% of total deposits mobilized are kept in the Bank.

(iii)In case of SHG Savings Deposits the applicable rate of interest shall be same as normal Savings Deposits, i.e. @4% only.

N.B.- (i) Present employees and retired employeesof the Bank having age of less than sixty yearsare entitled to get 1% additional interest on their own deposit.

(ii) Senior Citizen Retired employees of the Bank are entitled to get 1.50% additional interest on the term deposits, but no further senior citizen benefit will be allowed.

(ii) Deposit amount of Rs.1.00 Crore and above shall be treated as Bulk Deposit.

(iii) Accepting bulk deposits is negotiable and not restrictive. It shall be decided on case to case basis.

GENERAL MANAGER

Memo No. (31)/2016-17 dated 03.11.2016

Copy forwarded for information and taking necessary action to:-

(i)Manager, Mugberia Central Co-operative Bank Ltd.,______Branch/Section

(ii)Asstt. General Manager, Adm. & Dev./Acctts. & Operation/Int. Checks & Controls

(iii)Sri______Chairman / Vice-Chairman / Director, Mugberia Central Co-operative Bank Ltd.

GENERAL MANAGER

Memo No. (31)(282)/2016-17 dated 03.11.2016

Copy forwarded for information and taking necessary action to:-

(i)The Secretary/H.P.E,.……………………………………………………..S.K.U.S. Ltd.

(ii)The Secretary,……………………………………………………..E.C.C.S./S.S. Ltd.

GENERAL MANAGER