Fixed Deposit
A Fixed Deposit (also interchangeably referred to as a Term Deposit) are funds deposited by customers for a fixed period, decided in advance, with a contracted interest rate guaranteed not to change for duration of the deposit, with proceeds payable only at maturity.
Individual Fixed Deposit
A fixed amount is deposited for a fixed period of time and generally withdrawable both the principal and interest on maturity. The interest provided depends on the duration for which the client is opening the FD account.
Deposit Amount
| Minimum | 10,000 |
| Maximum | No Limit |
Corporate Fixed Deposit
A Corporate Fixed Deposit is an interest bearing deposit bank product offered to Corporate Banking Customers by the Banks & accredited Financial Institutions.
Minimum and maximum deposit amount
| Minimum | Nu.1,000,000 |
| Maximum | No limit |
Who can open the account?
Sole proprietorship firms, Registered Corporate entities, partnership, firms, companies, government bodies, trust, religious bodies.
Documents Required:
1. Official letter/management approval/board resolution stating to open FD account addressed to Branch Manager stating the designated persons/signatories to operate the account/s.
2. A copy of valid Identification Document/Identification Proof.
3. Tax exemption certificate (if tax is exempted).
4. Copy of Legislative or any other basis on which the government body has been established.
5. A copy of CID and TWO recent passport sized photographs of authorized representative and Authorized signatories.
6. A dully completed Account Opening Form.
7. Articles of Association/Shareholding patterns (Beneficial Owners detail).
