Floating Rate Bulk Term Deposit - Personal Banking

Floating Rate Bulk Term Deposit (FRBTD) 

• Eligibility: All Individuals (Including NRIs) and Non-individual customers. Minors not eligible to open FRBTD either singly or jointly with guardian. The additional interest rates as applicable to other deposits are not extended to Senior Citizens/Staffs/Staff Senior Citizens.
• Tenor:
  • Minimum: 91 days
  • Maximum: 3 years.
  • Minimum period for NRE Rupee Term Deposit shall be 12 months
• Deposit amount:
  • Minimum: Rs. 2 Crores and in multiples of Rs.1,00,000/- (Rs. One lac) thereafter
  • Maximum: No Limit
• Penalty for premature payment of FRBTD for all tenors will be 1%. No interest shall be paid in case of premature withdrawal of deposit before 91 days.
• Loan/Overdraft facility would available up to 90% of FRBTD amount. Interest rate would be 1.50 % p.a. above the applicable floating interest rate.
• Transferability allowed among our branches