Pigmy Deposit Scheme

Little drops of water make the mighty ocean –we believe in this dictum for our Daily Deposit (Pigmy) scheme. This deposit scheme is suitable for the needs of one and all, viz. businessmen, professionals, wage earners, teachers, salaried personnel, traders, housewives, etc.

Under this scheme, you can save money with us regularly as per your convenience. What’s more? You need not visit the Bank for doing so either. Our authorized Agent collects your savings at your doorstep at regular intervals.

Subsequently, your money silently grows over a period into a lump sum for meeting your future commitments like daughter's marriage, children's education, family functions, household and personal purchases, payment of insurance premium, yearly taxes, etc.

Pigmy Deposit Account

A Pigmy Deposit Account benefit of this scheme is for small shopkeeper, salesman, hawkers, etc.

Features & Benefits

• Choice to opt for Scheme Period from 12, 24, 36 months.
• Amount as low as Rs.100.- per day can be saved daily/weekly/monthly.
• INo penalty even if depositor is unable to pay contribution regularly.
• Deposit account can be closed prematurely subject to certain conditions.
• SMS Alerts for Transactions.
• Loans can be availed upto a maximum of 85% of the balance in the Pigmy account.
• Nomination facility.
• The rates of interest are as fixed by the Bank from time to time.
• If the amount is withdrawn before 6 months then premature deduction @ 5% will be made from the deposit amount.

• Account Holder can withdraw the amount after 6 months without penalty. After completion of 1 year, interest at 2% p.a., Upto 2 year interest 3% p.a., for 3 years interest 5% p.a. will be paid to the account holder.

Officially Valid Documents

Two latest passport size photographs and any one of the officially valid documents as Identity and Address proof from the list below,

• Aadhar Card
• PAN Card
• Voter's Identity Card
• Driving License
• Passport
• Ration Card
• Electricity Bill
• Telephone Bill

General Rules

• Account not operated for more than two years will be treated as inoperative/dormant account.
• Bank reserves the right to alter, revise and cancel the rules from time to time.

Click here for Deposit Interest Rates