HNB savings schemes are designed to delight our customers. We not only provide you with interest but also provide weekly, semi annual and annual draw schemes.
So you not only see your money expand, but you also get rewarded during the process of banking with HNB.
Saving account requirements -
- Minimum deposit of Rs. 2000/-
CDs are at present available in three denominations, i.e. Rs. 100,000/-, Rs. 250,000/- and Rs. 500,000/-. Maturity periods vary from 6 months to 5 years. Interest on CDs is paid 'up front'. There is no stamp duty on a long term CD with maturity period of 4 to 5 years.
(Long Term Certificates of Deposit with Bearer Interest Coupons) These are Long Term Certificates of Deposit with interest coupons for a period of 4 years and 5 years
Features :
Selling Price - Face value of the certificate & not the discount value
Minimum face value of the deposit - Rs.100,000/-
Face value may be increased by multiples of Rs.10,000/-
Maximum face value of a deposit - Rs.2 Mn.
The amount shown on the face of the certificate will be paid by the Bank to the holder on presentation on or after the date of maturity.
Payment of Interest :
Pre-printed Interest Coupons serially numbered will be made available for each Certificate of Deposit.
Interest will be paid either quarterly, half yearly or annually and a separate coupon will be issued for each period of payment of interest.
Interest coupon should be presented for payment at the Branch which had issued the CD.
Interest is calculated using the simple interest calculating method and amount payable will be based on equated amounts.
No additional interest is payable if the Coupon is surrendered after the data indicated in the Interest Coupon.
Benefits to the Holder :
Benefits Int. Coupon - could be given as gifts by the deposit holder.
