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DETAILS OF DEPOSIT SCHEMES
INTEREST RATES ON FIXED DEPOSITS

Coastal Bank offers the following deposits.

  • SAVINGS DEPOSITS

Savings Bank account can opened at any of our branches with the following Minimum Balances.

Particulars
Urban (Vijayawada, Guntur & Eluru)
Semi Urban & Rural

With Cheque Book Facility

Rs.1000

Rs. 500

Without Cheque Book Facility

Rs. 500

Rs. 250

  • CURRENT DEPOSITS

 Current accounts can be opened with following balances.

Particulars
Urban (Vijayawada, Guntur & Eluru)
Semi Urban & Rural

Current Account

Rs. 3000

Rs. 1500

  • FIXED DEPOSITS

Interest on Fixed Deposits is paid on Monthly/Quarterly/Half Yearly basis.

  • KANAKAVARSHA DEPOSITS

It is a cumulative interest plan. Interest earned will be reinvested, added to the principal. Minimum period of Deposit is 6 Months.

  • CASH CERTIFICATE

Issued at discounted value and payment will be made at face value on the maturity date.

  • COASTAL AKSHAYA DEPOSIT

It is a special deposit scheme called "COASTAL AKSHAYA" and introduced from 02-06-2007. Highlights of the scheme is highest interest rate of 9.75% p.a. for a shortest period of 369 days. Additional interest of 0.50% p.a. (i.e. 10.25% p.a.) will be offered to Senior citizens, Staff and bulk deposits of Rs. 15 Lacks and above. Scheme is for limited period. Pre-mature closure will not be allowed.

  • RECURRING DEPOSITS

It is a Systematic monthly investment plan. Interest is exempted from income tax.

Table shows the maturity value of a RD Account started with a monthly installment of Rs.100/- for different maturity periods.

  • NITYA DEPOSIT SCHEME

It is a unique scheme specially designed for Business Community. This account can be opened for a minimum period of 12 months and maximum of 24 months. Daily deposits will be collected by the Bank Officials at the customers' doorsteps and will be credited to their accounts on daily basis.

  • VANITA VIKAS DEPOSIT SCHEME

This scheme is specially designed for Women Customers. The Unique feature of this scheme is that a loan will be sanctioned to the depositor on the maturity of the deposit. This loan amount is equal to the maturity value of the deposit subject to the prevailing terms and conditions of the Bank.

  • NRI SERVICES(To be offered shortly)

INTEREST RATES ON TERM DEPOSITS (w.e.f 23-03-2007)
PERIOD
RATE % p.a

 15 to 45 days
5.00

 46 to 90 days
6.00

 91 to 179 days
7.50

 180 days to less than 1 year
8.00

 1 year to less than 2 years

8.50

 2 years to less than 3 years
8.75

 3 years and above
9.00
  • For Senior Citizens 0.5% more on deposits above six months.
  • Additional Interest Rate on Deposits above Rs. 1.5 million.
 
COASTAL LOCAL AREA BANK LIMITED, Member of DICGC
Registered Office: D.No. 59-14-2A, 3rd Floor, Santhi Plaza, Ring Road, Gayatrinagar, Near Benz Circle, Vijayawada - 520 008.
 
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