1. Who can open an account:

1. Individual in his own name.

2. Two or more individuals in their joint names with suitable repayment instructions.

3. A guardian on behalf of a minor.

4. In the name of clubs, societies, associations, educational institutions, trusts, firms, partnership concerns, joint stock companies, executors and administrators.

2. Mode of opening an account:
An account can be opened with a minimum amount of just Rs.100/-.
The depositor should give an application in the prescribed form.

3. Period of Deposit:
Under the scheme, customer can choose the period of deposit to suit his needs, from a minimum of 15 days to a maximum of 10 years.

4. Interest:
The interest on Fixed Deposit will be paid at rates applicable for the period of deposit as prescribed under the Reserve Bank of India’s rules/directives/guidelines from time to time and fixed by the Bank.

Interest is paid at quarterly rests. If required, monthly interest may be paid at discounted rates.

5.Repayment on Maturity:
The deposit is repayable on the maturity date as indicated on the deposit receipt.

6.  Premature Closure:
The depositor can close the account prematurely. In such case interest will be paid at 1% less than the rate applicable for the period deposit remained with the bank.
In the event of the death of the depositor while paying deposit prematurely., deducting 1% of interest will not be applicable.

7. Renewal of matured Deposits:
The total amount of overdue deposits or part thereof can be renewed from the date of its maturity till some future date provided the renewal must be for a minimum of 15 days, beyond the date on which it is renewed and the renewal is made with in 15 days from the date of maturity.

The interest is payable at the appropriate operative rate on the date of maturity of original deposit and is payable only on the amount of the deposit so renewed.

8. Loan against deposits:
Depositor can avail a loan upto 80% of the deposit amount. Interest on loan will be levied at a rate 2% higher than the rate of interest paid on the deposit.

 9. Transfer of Deposit Account:
The fixed Deposit account can be transferred from one branch of bank to the other at the request of the depositor after maturity only.

10.Nomination facility:
Nomination Facility is available. Necessary application is to be obtained from the depositor and entries are to be made accordingly in the Banks records.