Monthly Interest Scheme
Opening Monthly Interest Scheme (FD) Account :
- Monthly Interest Scheme (FD) account may be opened by a person in his / her own name OR
- Jointly with other persons payable to any one or more of them or the survivor or survivors (Specific instructions in this regards to be given in writing at the time of opening the account)
- By a natural guardian or a guardian appointed by a complete court, for a minor. In both the cases the guardian must declare the date of the minor & the date when the minor will attain majority.
- Term deposit schemes for various durations at attractive interest rates.
- Period of Deposit: Minimum 7 days year and maximum 10 years
- Premature Withdrawal: Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit.
Document to be Need :
- Address Proof
- Identity Proof
- One Photograph
DICGC: The Deposit Insurance System in India is subject to the Provisions of Deposit Insurance Act (enacted in 1961). Deposit Insurance and Credit Guarantee Corporation (Wholly owned subsidiary of the Reserve Bank of India) is the body that operates the deposit insurance system.
For opening a Monthly Interest Scheme (FD) Account, please download the below listed form and submit it to your nearest branch.
- Notification