A fixed deposit account which is also known as term deposit account is one which receives a higher rate of interest  than a regular savings account, until a specified maturity date. Your money is in safe hands when you open a fixed deposit account with us.

Fixed Deposit Account

Eligibility

  • Individual
  • On behalf of minors
  • Corporations
  • Business entities
  • NGOs
  • Associations

Requirement

  • Savings account/Current Account
  • Fixed Deposit form
  • Letter from concerned authority if its corporate FD

Benefits

  • Enjoy the FD interest rate on the bulk deposit
  • On maturity, the amount will be directly credited to savings account/current account
  • Availability of certain portion of interest on premature withdrawal
Pre-term withdrawals are allowed, but there are certain terms and conditions that will apply.
Eg:
  1. There may be a lock-in period for premature withdrawals to be accepted, as decided by the bank from time to time;
  2. Interest paid may be lesser than the prevailing rate for the period the FD has remained with us. The deduction rate ranges from 1-2% currently, and is subject to change.

Fixed Deposit + Account

Eligibility

  • Corporations
  • Individual
  • On behalf of minors

Requirement

  • Savings account
  • Fixed deposit form

Benefits

  • Multiple option of receiving interest (monthly, quarterly, half yearly or yearly)
  • FD + should be opened for a minimum of 3 years
  • Interest will be credited to savings account
  • Enjoy tax benefits on yearly interest income
  • Re-invest the interest received from FD+ for better returns.
Pre-term withdrawals are allowed, but there are certain terms and conditions that will apply.
Eg:
  1. There may be a lock-in period for premature withdrawals to be accepted, as decided by the bank from time to time;
  2. Interest paid may be lesser than the prevailing rate for the period the FD+ has remained with us, and shall be adjusted from the principal. The deduction rate ranges from 1-2% currently, and is subject to change;
  3. No partial withdrawal is allowed for this product.
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TD or RD Form 3:24 pm 11/13/2020462.5k