Fixed Deposit

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FIXED ACCOUNT

  • Fix deposit scheme is availabale for fix period from 15 days to 3 years.
  • We provide attractive Interest Rates to our Customers. For More Details.

Customer can open two types of fixed deposit account.

  • 1. Monthly/Quaterly interest payout : Customer can get interest monthly or quaterly basis.
  • 2. Reinvestment : Customer can reinvest their interest in deposit."
  • TDS on Interest income will be deducted as per income tax act. Know More about 15G/H.
  • No penalty interest on premature withdrawal of deposit.
  • We offer 0.50% extra Interest Rate to Senior Citizens on fix deposits (Simple interest) for more than 1 year deposit.
  • Guardian can open Minor's Fixdeposit A/c. When minor turns major, He/She can operate the account with his/her signature after producing valid KYC documents.
  • We offer nomination facility for all deposit accounts
  • Customer can open joint name fix deposit account and can give instruction to operate the account.
  • We provide quarterly, half yearly, yearly Interest payment option to our customers for their existing Fix Deposits as per their instruction.
  • Loans and Overdraft facility is available on Fix deposit account. The Loan or Overdraft amount can be 85% to 90% of the Deposit Amount
  • The maturity date of Loan and Overdraft Account against Fix Deposit is maturity date of Fix Deposit Receipt.
  • We are member of Deposit Insurance and Credit Guarantee Scheme in which customers deposit are insured up to Rs. 1 Lakh.
  • Partnership firms

RULES & REGULATION FOR FIX DEPOSIT SCHEME

  • Customer can Open Fix Deposit A/c with minimum of Rs.500/-
  • Guardian can open Minor Fixdeposit A/c. When minor turns major, He/She can operate the account with his/her signature after producing valid KYC documents.
  • Every Depositor must have to fulfill KYC norms as per RBI directive.
  • Premature Payment of Deposits will be subject to RBI directives and Bank's Deposit Policy applicable from time to time.
  • The maturity amount is payable on maturity date. If depositor do not renew or withdraw the deposit then the interest as applicable to Savings Bank account will paid to the Depositor as per RBI guidelines.
  • In the event of Death of the Depositor, the nominee/joint account holder will be entitled to receive the amount of Fixed Deposits after completing the due procedures as per Bank's policy.
  • Every Depositor ha to fulfill KYC norms as per RBI directive.
  • The Board of Directors of the Bank having all rights to change the rules and regulation for the scheme as per RBI directive.