Products



PALLAVAN SIRUTHULI SAVINGS BANK ACCOUNT – For School Children

- All students from class one onwards are eligible to have accounts under this scheme

- The account can be opened with zero balance and no minimum balance is to be maintained

- The deposit will earn an interest at 4.50% p.a on daily basis

- A Hundi will be given to all students opening accounts under the scheme

- Collection of amount saved will be done at the school premises

- Collection of amount saved will be done at the school premises

- These accounts can also be used for getting scholarships of the children

PALLAVAN SELVAMAGAL SAVINGS BANK ACCOUNT

- Girl students of 14 years and above only are eligible to open accounts under this scheme

- Students can open SB accounts with zero balance

- The deposit win earn an interest at 4.50% p.a on daily basis

- The student will be issued with "Junior Rupay Card" operable in all ATMs and BC Pos machines of our Bank

- Collection of amount saved will be done at the school premises

- DD/BPO/NEFT for the purpose of educational needs of the student will be free of cost.

Pallavan 555 – Premier product of the Bank

- Accounts can be opened for a fixed period of 555 days.

- The Deposit can be opened either as Fixed Deposit or RIP

- 7.50% for Senior Citizen (above 60 years) for deposits upto Rs.1 Crore

 

 

 

 

 

 

 

 

 

 

 

Pallavan 999 – Premier product of the Bank

- Account is opened for fixed period of 999 days

- The Deposit can be opened either as Fixed Deposit or RIP

- 7.50% for Senior Citizen (above 60 years) for deposits upto Rs.1 Crore

- Long Term Investment: High Yield - Highest among all Banks

- Loan against deposit facility is available as in other deposits

- Money deposited in Fixed Deposits is eligible for Quarterly I monthly interest

 

 

 

 

 

 

 

 

PALLAVAN MUTHUSARAM

Accounts can be opened for a fixed period of

- 77 Months for General Public

- 76 Months for Senior Citizen

- The Account can be opened with a minimum monthly instalment amount of Rs.500/- and further in multiples of Rs.500/-

- No deduction of Tax at Source.

- Deposit will get Rupees One lakh plus as maturity amount for a monthly instalment of
Rs.1000/-.

PALLAVAN SURABHI VARIABLE RECURRING DEPOSIT SCHEME

- Accounts can be opened for periods from 12 months to a maximum of 10 years

- The Core deposit is a minimum of Rs.25/- and the instalments can be in multiples of Rs.25 only upto a maximum of Rs.100000/-

- There is no restriction on the number of times the core deposit can be varied upwardly from the initial core deposit subject to a maximum of Rs.10,00,000/- in a calendar month.

- No Tax Deduction at Source.

Pallavan 555 – Premier product of the Bank

- Accounts can be opened for a fixed period of 555 days.

- The Deposit can be opened either as Fixed Deposit or RIP

-- 7.50% for Senior Citizen (above 60 years)

 

 

 

 

 

 

 

 

 

 

 

Pallavan 999 – Premier product of the Bank

- Account is opened for fixed period of 999 days

- The Deposit can be opened either as Fixed Deposit or RIP

- 7.50% for Senior Citizen (above 60 years)

- Long Term Investment: High Yield - Highest among all Banks for deposits

- Loan against deposit facility is available as in other deposits

 

 

 

 

 

 

 

 

Pallavan Tax Saver

- Meant for Individuals and HUF, minimum Rs.100/- upto a maximum of Rs.1.5 lakh (The deduction is subject to overall ceiling of Rs.1.5 lakh alongwith other deductions under Section 80 C)

- Lock-in Period – 5 Years

- Rate of Interest is 7.00%

- Additional Rate of Interest of 0.50% available for Senior Citizens.

- Deposit is accepted in Joint Names, however the eligibility for deduction under Sec.80C will be applicable for the first holder only

Note : The interest rates mentioned in the page is subject to change. Although steps are taken to update the interest rates periodically, viewers are advised confirm the current rates of interest at the nearby branch.

Pallavan Kanakadhara Jewel Loan - Jewel Loan for Working capital to Farmers

- To meet the short term needs of farmers for development purposes and maintenance of agricultural assets.

- Maintenance of Agricultural assets includes Tractors , Powertillers, Paddy threshers, Harvesters ,Machineries like oil engine , Electric motor and other accessories and working capital for activities allied to agriculture like Dairy ,Poultry etc.

Pallavan Gomatha Plus

- Investment credit in Agriculture continues to be focus area of our Bank. Credit flow through Investment Credit can scale up capital formation under agriculture. Dairying is a most common investment activity taken up by farmers as a supplementary activity in rural areas.

- With this objective in view, our Bank has formulated a new scheme called "PALLAVAN GOMATHA PLUS " wherein financial support could be extended for setting up small dairy farms by farmers and agricultural laborers to increase their income and employment level.

- Farmers availing credit assistance under thisscheme will be eligible for subsidy from NABARD under "Dairy Entrepreneurship Development Scheme"

Pallavan Senior Gold - Jewel Loan Scheme for senior citizen

- Short term needs/consumption/ medical purpose etc for Senior Citizens.

- Senior citizens drawing pension or having regular source of income along with the spouse wherever possible/applicable

- Minimum age of 60 years, maximum age upto 75 years at entry level. Age proof is essential

- In order to lend a hand to Senior citizen this product was launched at concessional Rate of interest.

Interest rates on Term Deposits wef 17.11.2016

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Period of Deposit
Interest rate% per annum
Upto Rs.1 Crore
Above Rs.1 Crore
15 days to 29 days 4.50 4.50
30 days to 45 days 4.50 4.50
46 days to 90 days 5.50 5.50
91 days to 180 days 6.25 6.25
181 days to less than 1 year 6.85 6.75
1 year to 554 days 7.00 6.90
555 days - Pallavan 555 7.00 6.90
556 days to less than 2 years 7.00 6.90
2 years to less than 3 years 7.00 6.90
999 days - Pallavan 999 7.00 6.90
3 years to less than 5 years7.00 6.90
5 years and above 7.00 6.90

Rate of Interest on Special Products

Special Products Interest rate % per annum
Pallavan Tax Saver 7.00
Pallavan Muthusaram RD

7.00

 

The additional interest of 0.50% over the normal rates is payable to Senior Citizens for period. of deposits more than 181 days and for amount upto ~1.00crore only

Depositors are having the facility of availing 85 % of the outstanding amount as loan to meet their unforeseen needs by paying 2 % over the Deposit rate.