Term Deposit (FDR)

v       Minimum period 1 year

v       Maximum period 5 years

v       Interest can be drawn monthly/quarterly (conditions)

v       Premature withdrawals permitted (conditions)

v       No penalty is levied after the minimum period of 1 year, for the amounts upto Rs.5.00 lacs or equi. of USD 10,000/-.

v       Premature withdrawal permissible subject to 1% penal interest, after the minimum period of 1 year, for the amounts ABOVE Rs.5.00 lacs or equivalent of USD 10,000/-.

v       No interest is payable for deposits of less than 12 months

v       Principal & interest are fully repatriable

v        Nomination can be in favour of residents or non-residents. Funds lying in the NRE Account on the death of an account holder can be repatriated to his non-resident nominee. For remittance of funds by resident         nominee outside India for meeting the liabilities or for similar other purposes of the deceased account holder, prior approval of RBI is required.

Customers, who wish to open an account for the first time with our Bank, should send cheque/Draft as initial remittance along with duly filled a/c opening form, passport copies, photograph, attestation of signature, to the branch of your choice (CLICK HERE FOR BRANCH IDENTIFIER) to enable them to verify your status. Subsequently, the customer are advised to opt for SWIFT remittance quoting the Customer Number/Account Number , Name of Branch he/she prefers to open RUPEE TERM DEPOSIT & period of deposit.