Who can open?

Any individual singly or jointly with another adult, or a firm or company or association.
An adult individual on behalf of a minor.

Minimum amount

USD 1000

Maximum amount

No upper limit.

Maturity period

12 months to 60 months at the request of account holder/s.

Interest Rate

To be announced from time to time by the bank as per duration of deposits and prevalent rate as per period shall be binding for the entire period of contract.
The interest on deposits is calculated on quarterly compounding basis and is payable half yearly on reinvestment scheme and for simple FD, simple interest is calculated on annual basis and can be paid quarterly or six monthly .

Premature withdrawal

Allowed after expiry of minimum period of 30 days from the date of deposit, subject to following conditions:
No interest is paid for the deposit withdrawn prematurely before 30 days.
In case of deposits withdrawn prematurely, interest is payable for the completed years and months at 1% lower rate than specified for the completed period.

Other features

A deposit can be auto-renewed for similar period at the prevailing rate of interest only once on first maturity.