With a wide variety of options to suit different needs, including Short Term Deposit, Reinvestment Deposit, Simple Fixed Deposit and Monthly Income Plan, they can be opened by individuals, proprietors, partnership and limited companies, societies, clubs, associations and HUFs.
In case you need to withdraw amounts in excess of what is available in your transaction account, we will break your deposit for the exact amount you require. The rest of the deposit continues earning the original high interest.
- Tenor ranges from 7 days to 5 years.
- Minimum amount to open an Online Term Deposit is 'INR 10,000/- and the same can be made in multiples of '1/-
- Options of simple interest and compound interest
- Auto renewal facility
- Overdraft facility available against deposit
- No-Premat Deposits greater than INR 7.5 Cr can be booked.
- Staff rates not applicable.
- Joint savings account holders can open Term Deposits online*
- Senior citizens can open Term Deposits online
* Applicable for ‘either or survivor’ joint account holders only, subject to FATCA & CRS information being updated on the bank’s system for both the account holders
In the absence of PAN details, TDS at a higher rate of 20% will be applied on resident Time Deposits with interest income of INR 10,000 or above during the financial year.
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