Coinciding with the festive season, the scheme, to remain open till Oct 31, has three-five year maturity period and offers an annualised return of 8.94 percent for three years (36 months), 9.32 percent for four years (48 months) and 9.72 percent for five years (60 months) respectively.

For senior citizens, an additional interest of 0.5 percent is being offered over the eight percent interest rate.

To be issued in nine denominations ranging from Rs.5,000 to Rs.1 million, the cash certificates can be subscribed by individuals as well as institutions including societies, clubs, associations and companies.

The scheme will also be entitled for loan or overdraft facility up to 90 percent of the deposit with accrued interest.