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Flexi Fixed Deposit

  • Feature:

Both installment amount and frequency is flexible so long the customer meet pre agreed yearly committed installment amount and end of maturity period committed amount.

  • Basic objective:

To inculcate saving habits and financial discipline for more comfortable, secured and protected future.

  • Product Description:

    Installment amount and frequency is flexible

Deposit the installments at the conveniences of the customer

Terms and Conditions

  • Deposit Frequency:
  • The scheme permits single or multiple deposits adding up-to the yearly committed installment each year.
  • Installment Amount:
  • The scheme permits single or multiple deposits adding up-to the yearly committed amount
  • Installment amount each year and for the entire term of the maturity period.
  • Deposit Period:
  • Minimum deposit period – 12 months (1 year)
  • Maximum deposit period – 120 months (10 years)
  • Mode of Deposit:
  • The customer can open a saving account and link with the Flexi Recurring Deposit account
  • Through savings account or make direct deposit into the Flexi Recurring Deposit account.
  • Interest rate:

Starts from 7% to 8.75%

Documents required for opening account

For Individual and joint account customers:

  • Duly filled “Saving Application Form”
  • A copy of Citizenship Identity Card for Bhutanese
  • A copy of valid Bhutanese work permit/passport for non Bhutanese
  • 2 copies of recently taken passport sized photo

Pre termination or early Account closure:

  • Pre terminates the account < 12 months, prevailing Savings rate shall be paid.
  • >12 months shall be paid interest at a rate 1% lower than the prevailing rate for the completed term.

Delayed Installment payment

  • If the customer fails to deposit the committed installment amount in a year, the Bank will calculate the interest by number of days delayed and adjust accordingly from the maturity/early settled amount.