Corporation Bank unveils two new term deposit schemes

Corporation Bank has unveiled two new term deposit schemes namely -- Super Gain Plus and Power Plus effective from February 5, 2016 which will offer higher rate of interest to depositors. Under Super Gain Plus, depositors will earn 7.66% per annum for a period of 444 days and under power plus, depositors will earn 7.77% per annum for a period of 555 days. The amount of deposit will be Rs 10,000 to less than Rs 1 crore. The deposit can be either fixed or cumulative. No penalty will be charged on premature withdrawal of deposits.

Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank. Overall, the Bank has a wide network of over 9,000 centres across India, including 2,061 branches, 2,599 ATMs and 4,349 branchless banking units.