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.
Individuals: The formalities for opening of accounts by individuals are the same as listed under Savings Bank Accounts Others:
- Address proof by taking taskara
- Identification proof like passport, voter identity card, identity cards issued by employer.
- Introduction of existing account holder
- Latest photograph
Schedule of charges
- 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.
No Maximum limit
3 months to 60 months at the request of account holder/s.
Rate of Interest
Interest will be payable once in 3 months .
- From 3 months to less than 6 months: 2 p.a
- From 6 months to less than to 12 months: 2.25 p.a
- From 1 year to less than 2 years: 2.5 p.a
- 2 years: 2.75 p.a
USD, EURO, GBP
- From 3 months to less than 6 months: 1.25 p.a
- From 6 months to less than to 12 months: 1.5 p.a
- FFrom 1 year to less than 2 years: 1.75 p.a
- 2 years: 2 p.a
Rate of Interest
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period of 30 days from the date of deposit, subject to following conditions: No interest is paid for the deposit withdrawn prematurely before 30 days. In case of deposits withdrawn prematurely, interest is payable as per past quarter rate percent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