FIXED DEPOSIT ACCOUNTS
RULES OF BUSINESS

1. Objectives :
This scheme will help the depositor to fund his liquid cash for a period of time enabling him to get
attractive income.

2. Who can open the Account :
Fixed Deposit account can be opened by an individual, jointly with another individual, by a minor by
guardian, firms, partnership, Associations, Societies, Companies, Trusts and the corporate bodies.
In case of minor/s accounts their date of birth and age should be furnished at the time of opening of
the account.

3. Introduction :
This account should be introduced by a person well-known to the Bank.

4. Amount of Deposit :
The account can be opened with a minimum balance of Rs .100/-. However at the discretion of the
bank it can be opened for any add amount over Rs. 100/- also.

5. Period of Deposit :
As at present the minimum period for which a depositors may be held is 31 days, whereas the maximum
is limited to a period of 10 years. However a depositors it is held in the name of a minor it can be held
upto the date of the attaining majority.

6. Rate of Interest and its application :
This scheme of deposit offers attractive rate of interest which is indicated elsewhere. The rate of
interest is related to the period of deposit Interest is paid on a quarterly basis under this account,
which will be paid by cash or by pay order or by credit to an account. Where however the depositor
desires monthly interest, the same will be permitted at a discount rate according to the rules of
Reserve Bank of India.

7. Nomination :
The individual / joint account holder may nominate a person to receive the amount at credit of the
deposit account in the event of the demise of the account holder /s.

8. Transferability of Account :
While account can be transferred from one Branch to another it cannot be transferred from one person
to another. However at the instructions of the account holder /s the addition or deletion of another joint
holder will be acted upon by the Bank.

9. Use of Specified Forms :
The account holder should use the account opening form and the specimen signature cards supplied
by the Bank in this regard.

10. Loss of Deposit Receipt :
In the event of loss of fixed Depositor receipt, the account holder may be issued a duplicate deposit
receipt in lieu of the lost one subject to indemnifying the Bank for any loss or damage that may arise
on account of issue of a duplicate receipt, besides following other formalities.

11. Right of Appropriation / Bank's Paramount Lien :
Under Banker's general lien the Bank has a right to appropriate the money ion the fixed Deposit account towards the dues payable by the account holder/s under some other account to the Bank.

12. Premature Closure of Account :
The account holder may choose to close the account premature which will be done according to the
rules of Reserve Bank of India.

13. Closure of Overdue Deposit Accounts :
Normally the bank will issue a letter to the depositor addressed to the last recorded address
requesting him to take payments / renew the deposit much before the date of maturity. Where,
however, the deposits are not renewed or cash not taken otherwise the same will be held in a
separate overdue deposit account and the account holder will be given the benefit of renewing it
from the date of earlier maturity without any loss of interest subject to the guidelines of Reserve
Bank of India in force. The fixed deposit account can be closed by surrendering the deposit receipt duly discharge by the account holder/s .

14. Loan on Deposit :
The account holder on his request will be granted loan against deposit in accordance with the rules
of Reserve Bank of India.

15. Bank's Right to Alter Rules :
The bank has got the right to alter the rules in this behalf and the account holder is bound by such
alterations in the rules.



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