The friendly, flexible fixed Deposit
Scheme | - A Deposit Scheme which allows withdrawal of part of the deposit in units of Rs.1,000/- at any time, without the necessity of prematurely closing the entire deposit account.
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Who can open : | - An Individual in his/her own name.
- Individuals in their joint names with suitable repayment instructions.
- Minor represented by parents / guardian.
- Clubs, Societies, Associations, Educational Institutions, Trusts, Firms, Partnerships, Joint Stock Companies, Executors, Administrators, HUFs, Govt. Departments, etc.
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Period of Investment | For Money Flex KCC & FD 7 Days to 120 months |
Amount of Deposit | - Minimum Rs.5000/- and thereafter in multiples of Rs.1,000/-.
- No Maximum Limit on deposit amount.
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Rate of Interest | - The rate of interest depends on the period of deposit, payable at the rate as decided by the Bank from time to time.
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Interest Payment Frequency | - In case of Money Flex FD, interest is paid at quarterly intervals till maturity.
- In case of Money Flex KCC: Interest is compounded quarterly and is paid on maturity.
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Withdrawals | - No need to close the entire deposit, if part of the amount is required. Part of the deposit in units of Rs.1,000/- can be withdrawn prematurely while continuing the remaining deposit.
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Add-ons | - Nomination facility
- Premature closure facility as per the rules lay down by the Bank.
- Loan facility up to 90% on the deposit, while for 3rd party deposit, it is up to 75%
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