This account will provide you with a higher rate of interest than the regular savings account at the time of maturity. Here accumulated savings are not withdrawn before the time of maturity. The longer the term of deposit, the higher the rate of interest accrued on the account.
- Saving fixed deposit duration ranges from 3, 6 or 12 months
- Minimum amount to be fixed is 1,000,000/=
- No bank charges and a certificate of deposit can be used as a guarantee to apply for a loan
- Account earns interest depending on the amount and period
- It can be liquidated at any time of notice
What you need to get started:
- Valid identification such as valid national ID, passport or driving License and instructions to open a fixed deposit