Fixed Deposits (FD) are deposits accepted by banks for a specified period of time. In terms of RBI directives the minimum period for which term deposits can be accepted is 15 days. The banks generally do not accept deposits for periods longer than 10 years.

Eligibility for opening of Fixed Deposit A/C

Resident Individuals,Sole Proprietorship Firms,Partnership Firms,Limited Companies,Trust Accounts,Association / Clubs / Societies

How to open

Should submit the dully filled & signed Account opening form along with; Specimen Signature.,Photograph of the operator.,

1. ID proof of operator as per KYC norms.( (a) Passport (b) Ration card containing Photograph (c) Driving License (d) PAN card (e) Voters Identity card (f) Unique Identity card issued by the Government of India.) ,
2. Address proof.,Business proof from local body/ partnership deed / trust deed/ Articles of association / Registration Certificate / byelaws / minutes copy / authorisation letter,(Proper introduction,PAN card copy for Initial deposit)

Facilities

Nomination facility is available on FD A/cs,The Bank allows loan to the depositors up on the security of the FDs at a maximum amount of 90% of the amount deposited. Standing instruction facility such as transferring the interests monthly/quarterly to a particular SB/Current Account and transferring the matured FD to the depositors account would be entertained

Interest Rates

The Bank will provide interest for the fixed deposits kept, according to their maturity periods. Present rate of interest slab.

Premature Closing

The bank may, at its discretion, consider payment of the deposit before the due date subject to the penal provisions applicable from time to time.

Insurance

Depositors along with insurance guarantee from DICGC up to 5 lakh