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| Khushal Deposit Accounts | Rozan Bachath Deposits | Current Accounts | NRI Accounts |
FLEXI
DEPOSITS
DEPOSITS WITH MULTIPLE OPTIONS / BENEFITS
1.
Objectives :
To help the depositer / investor to fund his/her liquid cash for a period
of time and enabling him/her to get attractive income and also investment
for a secured future.
SALIENT FEATURES OF THE FLEXI DEPOSITS:
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Most suitable for short, medium and long term depositors. |
|
Mixed benefits of both Saving/Term deposit options. |
|
Automatic renewal facility. |
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Option
to withdraw the interest on the units or allow the interest to get reinvested in the units. |
|
Facility to avail loan upto 85% |
2.
Amount of Deposit :
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Units are issued at Rs. 1000/- per unit and multiple there of. |
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No ceiling on the maximum amount or number of units. |
3. Period of Deposit :
Units are issued for any of the slab periods given starting from 31 days.
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31 days to 90 days |
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91 days to 180 days |
|
181 days to 1 year |
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1-2 years |
|
2-3 years |
|
Above 3 years |
4.
Rate of Interest :
Flexi Deposits offers attractive rate of interest prevailing on the date
of deposit. The deposits of Non resident (Ext.) & Non resident (Ord)
depositors will earn interest at the rates prescribed for NRE & NRO
accounts.
5. Renewal Facility :
Flexi Deposits enjoys the facility of automatic renewal option.
Further unit holder(s) have the option for premature renewal of the units
from a lower slab period to a higher slab period.
6. Redemption of Flexi Deposits :
Redemption of the units can be done on the maturity of units and they
can also be redeemed before maturity subject to banks without loss of
interest rules in force.
7. Loans & Advances :
The scheme has the instant credit/loan facility upto 85% of the unit value.
The units can also be offered as collateral security for the facilities
availed from the bank.
8. Transfer :
Flexi Deposits are not transferable or negotiable by endorsment. But the
deposits can be transferred from one branch to another for the easy accessability.
9. Nomination Facility :
The unit holder(s) may nominate a person whom in the event of death of
the sole unit hoder or the death of all unit holders receive the amount
of the units.
10. Who can Open the Account :
Amanath Flexi Deposit account can be opened by
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Any individual in his/her own name jointly with another individual. |
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A guardian on behalf of the Minor. |
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By Non-resident (External) & Non-resident (Ordinary) individuals. |
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Associations, Trust and Corporate bodies. |
