Karnataka Gramin Bank

New Nithya Nidhi Deposit Scheme (NNND)

(e-PKGB) / Cauvery Akshaya Nidhi Deposit Scheme (CAND) – (e-KGB)


Period of deposit

60 months

Minimum amount can be deposited

Rs 10/-

Rate of Interest on NNND

Before 12 months NIL
12 months to less than 18 months 1.00%
18 months to less than 36 months 2.00%
36 months to less than 59 months 3.00%
60 months i.e., on maturity 4.00%

Commission to the Agent

Monthly collection amount 3% + Rs 100/- Conveyence charges (Applicable TDS to be collected)
If the A/c closed within 12 months, Commission paid to the NNND Agent on the entire balance in the account should be recovered from the Agent.
If the A/c closed after 12 months,
  • Commission on bulk credits if any as explained below shall be collected from the Agent:
  • Amount of credits received to the account during the period of one year preceding to the date of closure either on maturity or before maturity to be considered as below:
  • Find out the quarterly average of credit to the account for the first 3 quarters.
  • Find out the credit received during the last quarter at the time of closure.
  • If the amount of quarterly average of first 3 quarters is more than the amount of credit received during the last quarter, it is termed as ‘Non bulk credit’ account and hence no NNND commission need be recovered.
  • f the amount of quarterly average of first 3 quarters is less than the amount of credit received during the last quarter, the account is said to have received ‘Bulk Credit’ and NNND Commission on the differential amount has to be recovered from the NNND Agent.
Commission to be collected on premature closure of NNND Service charges Rs 5/- + GST
NNNND Balance confirmations To be obtained on half yearly basis on every year September and March end from the depositors by sending the balance confirmation letters to them through certificate of posting.

*All other Terms & Conditions Applied. For more information please contact our Branch nearest to you.