| PARAMETERS | FEATURES |
| Eligibility | ➔ Individual (singly or jointly) with others ➔ Minor who have attained the age of 10 years and above in his own name on giving proof of age Proprietorship/ Partnership Firm, Commercial Organization, Company / Corporate Body HINDU Undivided Family Association, Club, a Society, Trust or Religious/Charitable or Educational Institutions ➔ Municipality or Panchayat, Government or Quasi-Government Body. ➔ Illiterate and blind persons can also open the account. |
| Deposit Amount | Single deposit of above Rs.15 lakh, and thereafter in multiples of Re. 1. |
| Period of Deposit | ➔ For Deposit from above Rs. 15 lac to Rs. 10 Cr.-(As per rates circulated by HO: IRMD-ALM) Maturity Option: For any period from 91 days to 120 months. Income Option: For any period from 6 months to 120 months. ➔ For Deposit above Rs. 10 Cr.(As per rates advised by treasury division for DRI rates)- Permission from HO treasury is to be obtained. Maturity Option: For any period from 91 days to 1 Yr. Income Option: For any period from 6 months to 1 Yr. ➔ Interbank Deposits above Rs 10 Crore (As per rates advised by treasury division for DRI rates) Permission from HO treasury is to be obtained. Maturity Option: For any period from 91 days to 1Yr. |
| Interest Option | While making the deposit, a depositor shall exercise his option regarding payment of interest on the deposit amount. It shall be indicated in each fixed deposit receipt. The following options are available under the Scheme: Income Option (Outflow of interest). ➔ The interest may be paid on monthly/ quarterly/ Half Yearly/ Yearly basis. ➔ The monthly interest will be paid at discounted value whereas the same shall be quarterly compounded in case of half-yearly and yearly payment of interest. ➔ The receipt-wise interest paid on monthly/quarterly etc. (as the case may be), will be updated by the System. Maturity Option (Re-investment of interest on quarterly compounding basis) ➔ The interest shall be compounded on quarterly basis and is payable on maturity of deposit. ➔ The incomplete quarter of such deposit shall be reckoned at the end, for the purpose of calculation of interest |
| Conversion | Conversion option is not available under the scheme. |
| Auto Renewal | No auto renewal should be allowed and auto closure should be marked in the system. |
| Premature Withdrawal/ Part Withdrawal / Extension in the period of deposit | No premature withdrawal/ part withdrawal/ extension are permitted under the scheme, in any case, except In case of death of the Depositor (Single/ Joint)/ Bankruptcy/ winding up /directions by court/ regulators/ receiver/liquidator, Premature withdrawal is allowed & interest to be paid shall be as per the card rate for normal deposit for the period for which FD has run. |
| Advances/Overdraft facility | The option of Demand Loan/ Overdraft facility shall be available as per discretion of the bank & the existing guidelines. |
| Maturity Value | For deposits held in maturity option, the maturity value of the deposit shall be calculated by system on quarterly compounding basis. |