Fixed Deposit

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Fixed Deposit

A fixed deposit account may be opened by any person, individual,minor/HUF/Firm/Company/Club/Trust/Society/Association etc.

  • Deposits are accepted for fixed period.
  • Nomination facility available.
  • Quarterly payment of interest on Deposit.
  • TDS on interest on deposits as per Income tax laws.
  • Premature payment available (certain terms and conditions apply)
  • Loan facility against the deposit available.
  • Standing instruction for transferring the interest is accepted.
  • KYC not required, if already having Savings Account/Current Account with the Bank.

Rules & Regulations of Fixed Deposit Scheme

  • Depositor has to fulfill KYC norms as per RBI directive.
  • Customer can Open Fix Deposit A/c with minimum of Rs.500/-
  • Guardian can open Minor’s Fix Deposit A/c. When minor turn major then after providing valid age proof he/she can withdraw the amount with his/her own signature.
  • In the case of premature payment of fixed deposit,the period for which the deposit remained with the Bank will be reockned and the interest rate applicable for that period (the rate applicable on the date of original deposit) (minus 1% penalty) will be payable.
  • The maturity amount is payable on maturity date.
  • The deposit will be auto renewed from renewal date after 14th  day of its maturity on receiving customers consent .
  • All rights reserved to the Bank’s management to Change the Interest Rate of the Fix Deposit Scheme without prior notice. Change of Interest rate will be applicable to new deposits only.
  • The Bank having all rights of appropriation, set off, lien and change the rules and regulations for the scheme.

Requirements to Open Bank Account

  • Valid Photo I.D. & Address Proof
  • Any one of proof (Photo I.D. Proof)
    Passport
    Driving License
    Voter ID Card, Aadhar Card, PAN Card
    Government Approved College/university I.Card
    Government/Semi government/Department I.Card
  • Address proof.
    Electricity Bill (not more than 2 months old)
    Landline Telephone Bill (not more than 2 months old)
    Municipal Tax Bill, Aadhar Card, Driving License
    Other proof acceptable to Bank.
  • Passport Size Photographs – two copies
  • Pan Card with forwarding letter/Declaration on form 60/61.
  • Birth certificate for minor a/c.
  • Senior Citizens have to produce age proof to avail extra Interest Rate benefit.