Tender Fixed Deposit
Overview
Presently Bank is having various retail term deposit products in its bucket which is well suited to customer requirements and now one more addition in this row by introducing a unique product exclusively customised for customers participating in Bids/Tender/ EMD Process .This Product will exclusively cater to the requirements of individual/ Non individual customers having regular participation in bidding/ tendering/ EMD process.
Who is eligible Tender FD
All type of customer segment including individual , Non- Individual , HUF , Corporate, Trust , NGO etc are eligible for availing benefit under Tender FD for their regular business & personal requirement .How Tender FD different from Regular FD
Being designed for exclusive purpose tender FD having distinct charactristic which differentiate it from Normal FD –- Tender FD’s minimum value starting from Rs 100/-
- Senior Citizens preferential ROI benefit not available in Tender FD
- Overdraft Facility not available in Tender FD.
- Tender FD not allowed for colletral security / Lien purpose .
The Salient features of Tender FD are given as under:
| Particulars | Tender FD Features |
|---|---|
| Target Segment | Customers ( individual/ Non Individual ) looking for Fixed Deposit option for Participating in Bidding/ Tender Process. |
| Eligibility | Individuals, HUFs, Corporate, Trust, NGO, NRE/NRO and all other eligible Customers. |
| Minimum Amount | RTD- Rs 100/- |
| Maximum Amount | RTD- less than Rs 3.00 Crore |
| Minimum period | 7 days |
| Maximum period | 10 years |
| Rate of interest | As decided by ALCO from time to time |
| Additional Rate to Resident Senior Citizens and Staff/ Retired Staff Sr Citizen. | Not allowed |
| Premature withdrawal | Allowed as per extant policy |
| Premature withdrawal Penalty | Applicable as per extant policy |
