Fixed Term Deposit

BASIC Bank offers fixed term deposit to boost up customers savings in time. One can deposit a lump sum of money for a fixed period to get attractive rate of return.

Features:

  • A non-transferrable instrument (FDR) to be issued in favor of account holder.
  • Taxes and duties will be applied as per govt. rule.
  • Premature encashment will be allowed but conditions applied.
  • Loan facility available up to 90% of deposit amount but conditions applied.

Fixed Term Deposit can be opened in the name of:

  • Individual (Single).
  • Two or more Individuals (Joint)
  • Sole Proprietorship Concern.
  • Partnership Concern (Firm).
  • Limited Companies (both Public and Private).
  • Society / Club / Association / Local Bodies / Govt./Semi Govt. Organization, etc.

Tenure wise Interest Rate:

Tenure

Rate of interest

General

Applied for (i) Individuals and (ii) Employees benefit related Funds of Govt./Private Organizations

01 month

3.50%

3.50%

03 months

5.50%

5.60%

06 months

5.75%

5.75%

12 months

6.00%

6.00%

24 months

6.00%

6.00%


*Interest rate is subject to change from time to time.


Required Information & Documents:

  • Duly filled up Account Opening Form.
  • NID/ Birth Certificate/ Valid Passport
  • TIN (if any).
  • Two copies of recent passport size Photographs of account holder duly attested by the Introducer.
  • One copy of Passport Size Photograph of Nominee duly attested by the Account Holder.

For opening of FDR accounts for joint stock companies, associations and clubs etc.:

  • Copy of Registration or Incorporation certificate (in case of company or registered organization)
  • Copy of certificate of commencement (only for public limited company). 
  • Copy of Memorandum and Articles of Association (in case of limited company)
  • Copy of Constitution and By-law (in case of association)
  • Copy of minutes of board of directors / managing committee / governing body meeting for account management
  • Certified copy of the names of directors / officials and their signatures
  • Declaration.