A fixed deposit, also known as an FD, is an investment instrument offered by our bank, to our customers to help them save money. With an FD account, you can invest a sizeable amount of money at a predetermined rate of interest for a fixed period.
A fixed deposit offers guaranteed returns
- Any person or persons approved by the Bank.
- Co-operative Societies, Registered Trust, Institutions and Associations.
- By two or more persons in their joint names.
- By a natural guardian i.e., father or mother approved by the bank on behalf of a minor.
- Interest will be paid on the deposits at the rates in force as per the Reserve Bank’s directive from time to time.
- Interest amount will be paid at the time of maturity.
FIXED DEPOSIT RECEIPT:
The Bank will issue a receipt in favour of the depositor/s showing the amount deposited, the period for which the deposit is accepted, maturity date and maturity amount.
In case of loss of original Fixed Deposit Receipt the depositors would have to intimate the bank immediately. On an application satisfying the prescribed rules the certificate indicating the particulars of the deposit will be issued to the depositor. The Bank will charge Duplicate Receipt Charges at such rates as in force from time to time.
The Bank reserves the right to alter, amend, and rescind the rules from time to time.
* for more details contact our nearest branch.