Fixed Deposit

Fixed/Term Deposit is a deposit which is not repayable on demand (i.e. which is repayable on a fixed date or after a period of notice.) A time deposit is a contract entered into by the Bank with the depositor, to pay on a fixed or determinable future date, the amount of money deposited plus interest accrued thereon. Each time deposit is a separate contract and various deposits in the name of the same depositor or in the names of members of the same family, should not be treated as one deposit. A time deposit receipt is not a negotiable instrument and, therefore, cannot be transferred by endorsement by a depositor in favour of another.

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

Individuals: The formalities for opening of accounts by individuals are the same as listed under Savings Bank Accounts Others:

1. Address proof by taking taskara
2. Identification proof like passport, voter identity card, identity cards issued by employer.
3. Introduction of existing account holder
4. Latest photograph

1. Towards the cost of identity card $10 will be deducted during the closure of account. This charge will be deducted from the balance outstanding in the account and rest balance will be paid to customer. After 3 months Bank will not deduct USD 10 for the purpose of closing account.

USD 100

No Maximum limit

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

Interest will be payable once in 3 months .

AFN

1. From 3 months to less than 6 months: 2 p.a
2. From 6 months to less than to 12 months: 2.25 p.a
3. From 1 year to less than 2 years: 2.5 p.a
4. 2 years: 2.75 p.a

USD, EURO, GBP

1. From 3 months to less than 6 months: 1.25 p.a
2. From 6 months to less than to 12 months: 1.5 p.a
3. FFrom 1 year to less than 2 years: 1.75 p.a
4. 2 years: 2 p.a

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.

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period of 30 days from the date of deposit, subject to following conditions: No interest is paid for the deposit withdrawn prematurely before 30 days. In case of deposits withdrawn prematurely, interest is payable as per past quarter rate percent

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