Fixed deposit accounts which are also called term deposit also includes the deposits reveived by the bank
for a fixed period and a fixed rate of interest specified in advance. Such deposits are repayble on the expiry of a specified period as indicated by the depositor. The periodicity of such deposits is generally fixed for periods of 12 months and above. Any deposit received in the nature of fixed
deposits for the period less than 12 months is called "SHORT TERM DEPOSITS".
|Eligibility||All types of customers.|
|Minimum Amount||Rs. 500.|
|Loan against deposit||Loan against this deposit is allowed|