Fixed Deposit

Fixed Deposit Account Rules
❖Fixed deposit scheme is an attractive scheme to deposit your savings for fix period for 7 days to 36 Months.
❖We provide attractive Interest Rates to our Customers from time to time.
❖We offer 0.50% extra Interest Rate to Senior Citizens (Age 60 or above) on fixed deposits.(for 1 Year and above)
❖Guardian can open Minor Fixed deposit A/c. When minor turns major then at maturity he/she can withdraw the amount with his/her signature, after providing valid age proof.
❖We offer nomination facility for all deposit accounts.
❖We provide quarterly, half yearly, yearly Interest payment to our customers on their existing Fixed Deposits as per their instruction. We also provide monthly interest as per RBI guidelines.
❖Loan and Overdraft facility is available against fixed deposit receipt.
❖TDS on Interest income will be deducted as per Income Tax Act.
❖We are member of Deposit Insurance and Credit Guarantee Scheme [DICGC] in which customers deposit are insured up to Rs. 5 Lakh.

Rules & Regulation for Fixed Deposit

❖Depositor has to fulfil KYC norms as per RBI directives.
❖Customer can Open Fixed Deposit A/c with minimum of Rs.1000/-
❖Guardian can open Minor Fixed Deposit A/c. When minor turn major then after ❖providing valid age proof he/she can withdraw the amount with his/her signature.
❖In the case of premature withdrawal of deposit the Applicable rate of interest minus 1% penalty will be imposed.
❖All rights reserved to the Bank management to Change the Interest Rate of the Fixed ❖Deposit Scheme without prior notice. Change of Interest rate will be applicable to new deposits only.
❖The Bank having the rights of appropriation, set off of lien deposits on maturity.


Requirements to Fixed Deposit

❖ Valid Photo I.D. & Address Proof of proprietor / partners /directors
Any one of proof for all partners/ directors or proprietor (Photo Id)
1.Passport,
2. Driving License,
3. Voter ID card,
4. Government Approved College/university I. Card,
5. Government / Semi government / Department I. Card
6. Aadhar Card
❖(B) Address Proof (Any One)
1. Electricity Bill (not more than 2 months old)
2. BSNL Landline Telephone Bill (not more than 2 months old)
3.Municipal Tax Bill
❖Other proof acceptable by Bank.
❖Passport Size Photograph – 2 Copies
❖Pan Card
❖Birth Certificate for minor a/c.
❖Senior Citizens have to produce age proof to avail extra Interest Rate benefit.