Fixed Deposit

Who can open fixed deposit

Individual in his own name.
Two or more individuals in their joint names with suitable repayment instructions.
A guardian on behalf of a minor.
In the name of clubs, societies, associations, educational institutions, trusts, firms, partnership concerns, joint stock companies, executors and administrators.

Note: Nomination Facility is available

Initial deposit at opening of account

Minimum amount of just Rs.100/-.

Rate of interest

Tenure	ROI
i) 15 days to 45 days	4.00%
ii) 46 days to 90 days	4.75%
iii) 91 days to 180 days	5.25%
iv) 181 days to 364 days	6.00%
v) 1 year to less than 2 years	7.10%
vi) 2 years and above less than 5 years	6.50%
vii) 456 days fixed Deposit (Simple interest)- -w,e.f. 15.03.2024	7.40%
viii) 456 days Fixed Deposit (Simple Interest ) Senior Citizen--w,e.f. 15.03.2024	7.90%

*(Additional 0.50% for Senior Citizens)

Repayment on Maturity

The deposit is repayable on the maturity date as indicated on the deposit receipt.

Premature Closure

For premature closure interest will be paid at 1% less than the rate applicable for the period of deposit remained with the bank.
In the event of the death of the depositor while paying deposit prematurely., deducting 1% of interest will not be applicable.

Renewal of matured Deposits

The total amount of matured deposits or part thereof can be renewed from the date of its maturity till some future date provided the renewal must be for a minimum of 15 days, beyond the date on which it is renewed and the renewal is made within 15 days from the date of maturity. The interest is payable at the appropriate operative rate on the date of maturity of original deposit and is payable only on the amount of the deposit so renewed.

Documents required for opening the account

Identity Proof and Address Proof: Passport/Aadhar card/ Driving Licence/voter ID card
PAN card
Photographs

Note : Aadhar card is mandatory to open account

Loan against deposits

Depositor can avail a loan up to 85% of the deposit amount. Interest on loan will be levied at a rate 2% higher than the rate of interest paid on the deposit.

Transfer of Deposit Account

The fixed Deposit account can be transferred from one branch of bank to the other at the request of the depositor on maturity only.

Safe custody of deposit receipts

The bank accepts deposit receipt for safe custody free of charge in case of valued customers as special case.

Fixed Deposit

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