Terms And Conditions (Fixed Deposit)

Effective Date: November 13, 2025

1. Account

The fixed deposit (FD) will be generated in the same name of the account holder as in account from which it is funded.
Account holder must be of a legal age.
Closure of account will normally be closed at the time of full maturity unless the context otherwise require.

The account holder can opt for a nominee of his/her choice.
The depositor(s) is/are at liberty to change the nominee, through declaration in the appropriate form to revise the nomination.

Full maturity shall be after the completion of one calander year from the date of deposit unless the depositor otherwise require the account more than one calender year.
Full maturity depends on the time of account opening or deposit.

Withdraw of interest and principal can be only done by the account holder (Fixed Deposit Account) only.
In event of death of depositor, the nominee may withdraw the amount by producing the death certificate of account holder.
The capital amount can be withdrawn after 18 days from the date of maturity. If the depositor don't claim after 7 days from the date of withdrawal, a reminder notification will be issued to the depositor. After 5 days from the reminder notification, the deposit amount will auto renew for the same duration for which it was originally kept.
In case of pre-mature closure, there will be a penalty charge from the office as per the office policy at the time of requesting premature closure.

The nominee can withdraw the capital if it matured, otherwise may receive the interest until it mature.
The nominee is liable to receive the amount.