• Any Resident Individual - Single Accounts, two or more individuals in Joint Accounts, Illiterate Persons, visually impaired persons, Minors(operating by guardian), Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a "Cumulative Account" in single/joint name/s.


  • Simplest deposit option available to the depositor
  • Rate of interest on this scheme will be as per the Term Deposit rate applicable for the period
  • Age limit for individual 18 years and above & in the case of minor, operation by guardian only
  • Monthly installments can be for any amount starting from as low as Rs. 50 onwards
  • An account can be opened for any period ranging from 12 months to 120 months, in intervals of 1 months
  • The installment amount selected at the start of the scheme will be payable every month
  • Loan facility up to 80% of the principal @2% above the deposit rate
  • The number of installments once selected, cannot be altered.
  • A cumulative deposit can be converted into a Term Deposit before maturity, provided that the term deposit is for a period larger than the remaining period of cumulative deposit account and arrears, if any, of the monthly installments together with the penalty for the delay, are paid by the depositor. However, in the unlikely case of the monthly installment being discontinued for a valid reason, the account holder can convert the number of installments already paid, into Fixed or Reinvestment Deposit for a period longer than the remaining period of the Cumulative account. For the period the cumulative account has run, compound interest at the applicable rate is payable
  • Penal interest @ rate fixed by the bank on defaulted installment
  • Interest at the permissible rate is compounded every quarter
  • The maturity amount will be paid one month after the deposit of the last installment (latest table giving maturity values available with the branch)
  • A pass book will be provided to the depositor
  • Interest on Cumulative Deposit accounts are subject to TDS (w.e.f. 01-06-2015)
  • Nomination facility available
  • To comply KYC
  • PAN/Form 60
  • PAN card linked for cash transaction Rs. 50000 and above
  • Senior citizens are offered additional interest of 0.50%
  • The interest rate payable to KB Staff /pensioners will be 1.00% above the applicable rate
  • Premature closure is allowed-no penalty will be charged

Back to Term Deposit Account