KB FIXED DEPOSIT ACCOUNT
PRODUCT TO REGULAR RETURN ON SURPLUS FUNDS
ELIGIBILITY
- Any resident individual-single Accounts,Two or more individuals in joint accounts, illiterate persons, Visually impaired persons, Minors(operated guardian), Associations, clubs, societies, Trusts, Institutions, Agencies permitted by RBI. eligible to open a "Fixed Deposit Account" in single/joint names.
UNIQUE SILENT FEATURES
- Simplest deposit option available to the depositor.
- Age limit for individual 18 years and above & in the case of minor, operation by guardian only
- Interest paid on due date/monthly/ quarterly/ yearly.(Interest is paid monthly at the discounted value)
- Interest is paid/credited to the Savings/Current/Cumulative account of the depositor
- Amount of Deposit – Minimum Rs. 1000
- No maximum limit
- Tenure of deposit 7 days to 120 months
- Loan facility up to 90% of principal @2% above the deposit rate
- Premature withdrawal is available -Penalty for premature applicable
- TDS as per Income Tax rules
- TDS in prevalent rate deducted at source if the form 15G/15H not submitted
- Auto renewal facility
- Provision for Nomination
- To comply KYC
- To obtain grant from Govt or DBT service.Adhar must be linked with account
- PAN/Form 60
- PAN card linked for cash transaction Rs 50000 and above
- Senior citizens are offered additional interest of 0.50%
- The interest rate payable to KB Staff /pensioners will be 1.00% above the applicable rate