Fixed Deposit Receipt (FDR)

The product is for those having surplus fund at their disposal for a considerable time and would like to invest to have return on their accumulated resources. Interest at certain rate for a certain period of maturity is paid at the end. Rate of interest is changeable as per prevailing market scenario.

Benefits
- 1. Rate of the interest remains static for the contracted period.
  2. Automatic renewal feature inbuilt.
  3. At contract maturity renewed, with standard declared rate of the bank.
  4. In case the receipt is lost standard instrument reissuance method apply.
  5. No service charge.
Conditions
- 1. Govt. /BB governing rules apply.
  2. Advanced Income tax on interest @10% (TIN holder), 15% (Non- TIN holder).
  3. Premature encashment before 3 (three) month precludes giving interest.
  4. not transferrable from branch to branch.
Requirement
- 1. 2 copies Passport Size Photographs of application.
  2. 1 copy passport size photograph of nominee(s).
  3. Photo identification of applicant(s) and nominee(s).
  4. Filled in application form.
  5. Standard Know Your Customer (KYC) profile.