Fixed Deposit Account (FD)

A fixed amount is deposited for a fixed period of time and generally withdrawable both the principal and interest on maturity.

The interest provided depends on the duration for which the client is opening the FD account.

Key points to know about Fixed Deposits:
A savings account is required to open a fixed deposit account.
The interest rate depends on the length of the FD term.
A portion of the interest is available for premature withdrawals.
Upon maturity, the amount is credited directly to the savings or current account.
The minimum amount is 10,000 and interest is credited monthly.
To set up automatic deduction, you need to create an SI.

Eligibility
Any customer eligible to open a Current or a Savings Account with the Bank is eligible to open a Fixed Deposit account
By parent/guardian on behalf of a minor.
By two or more persons, to be operated either singly by anyone of them or jointly by both/ all of them.
Sole proprietorships, firms, partnerships, private/public limited companies and government institutions/agencies are also eligible to open fixed deposit accounts under Corporate Fixed Deposits/ Steady Income Plan.

Tenure	Minimum Amount
Minimum 91 days	Minimum amount = 10,000
Maximum 10 years	Maximum amount = No limit

Requirements

For Individual

Copy of Citizenship ID Card
Two Passport sized photograph
Legal stamps

For Minors

Copy of Citizenship ID Card of the parent or guardian
Two passport-sized photographs of the guardian
Health card of the minor

Fixed Deposit Account (FD)

Key points to know about Fixed Deposits:

Eligibility

Requirements

For Individual

For Minors

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