Fixed Deposit Clause Samples
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Fixed Deposit. I. The Bank shall only accept fixed deposits in such currency, of such minimum deposit amount, for such deposit period and shall pay interest on such fixed deposit at such interest rate, as the Bank may, at its discretion, specify from time to time.
II. If the Bank shall issue a receipt or confirmation for a fixed deposit placed by the Customer, such document shall only be evidence of deposit and not a document of title.
III. Any fixed deposit accepted by the Bank will be subject to the provisions of this Agreement and to such terms and conditions as may be set out in the receipt or confirmation issued by the Bank therefore. If there is any conflict between this Agreement and such receipt or confirmation, the latter shall prevail.
IV. Upon the withdrawal or any drawing of any fixed deposit, the Bank is entitled (but not obliged) to require delivery of the original receipt or confirmation, if any, issued by the Bank therefor.
V. Unless otherwise agreed by the Bank, a fixed deposit can only be withdrawn on or after its maturity date or the expiry of its term.
VI. No fixed deposit deposited with the Bank by the Customer shall be assigned or transferred to any other person.
VII. Unless otherwise agreed or prior written instructions are received before the maturity date of a fixed deposit, the Bank may (but shall not be obliged) to, at its discretion, automatically renew that fixed deposit, together with the interest accrued thereon, upon that maturity date and upon each successive maturity date for a like term at the Bank’s prevailing interest rate for deposits in the currency of that account and for that term. No interest shall accrue or be payable on any fixed deposit which is not renewed. Where it is agreed that there shall not be any automatic rollover of a fixed deposit upon maturity, the proceeds of the fixed deposit will be deposited into a savings account in the same currency that is maintained by the Customer with the Bank or which the Bank may open for such purpose.
VIII. If the interest rate applicable to a fixed deposit for a particular period is an agreed rate above the fixed deposit rate, such agreed rate shall only apply to that fixed deposit for that period. That fixed deposit shall not be rolled over automatically but shall terminate upon maturity and the proceeds thereof shall be deposited into a savings account in the same currency that is maintained by the Customer with the Bank or which the Bank may open for such purpose.
Fixed Deposit. 6.1 Fixed Deposits can be placed for tenures in multiples of one to 60 months or such other tenure permitted by the Bank. If the maturity date falls on a non-Business Day, any instructions by you will be carried out on the next Business Day. Automatic renewal will be carried out on the maturity date on the Bank’s terms and conditions prevailing as at the maturity date.
6.2 Premature withdrawal of the Fixed Deposit for fresh deposit / rollover from 05 March 2018 onwards may be allowed subject to the terms and conditions set by the Bank as follows:
i. For premature withdrawal before 1 January 2019 :
a. For Fixed Deposits of 1-month, 2-month and 3-month tenure, no interest is payable for any premature withdrawal;
b. For Fixed Deposits of 4-month tenure or more:
i. which are withdrawn before completion of first 3 months, no interest is payable;
ii. which are withdrawn after completion of first 3 months but prior to maturity of the contracted tenure, the Bank may pay interest at half of the original contracted rate only for each completed month including for the first 3 month;
ii. For premature withdrawal on and after 1 January 2019 : No interest is payable upon premature withdrawal of Fixed Deposits, regardless of the number of completed months at the time of premature withdrawal.
6.3 Interest on the Fixed Deposit is calculated daily and payable:
a. upon maturity of the Fixed Deposit; or
b. at such periodic intervals, subject to such terms and conditions as may be imposed by the Bank from time to time. For Fixed Deposits with interest paid at periodic intervals and the customer is an individual:
i. If the periodic interest is in excess of his entitlement under 6.2(a), the entire interest paid to him shall be deducted from the principal amount of the Fixed Deposit on premature withdrawal;
ii. If the periodic interest is in excess of his entitlement under 6.2(b), the excess interest paid to him shall be deducted from the principal amount of the Fixed Deposit on premature withdrawal; For Fixed Deposits with interest paid at periodic intervals and the Customer is a corporate, sole proprietorship or partnership;
i. The entire periodic interest paid to this category of Customer will be deducted from the principal amount of the Fixed Deposit on premature withdrawal.
6.4 Subject to clause 6.5 below, you may give any one of the following instructions to be carried out upon maturity of the Fixed Deposit:
a. both principal and interest earned to be renewed as a Fixed Dep...
Fixed Deposit. (FD) and Fixed Deposit-i (FD-i) are insured by PIDM. Fixed Deposit/-i Tenure Board rate1 Promotional Rate2 Minimum Placement Amount Maximum Placement Amount Criterion 6-month 3.15% p.a. 4.00% p.a. RM10,000 RM10mil Fresh funds are required.
1 For illustration only. The board rates published as at 28 January 2019 are used to show the difference between the board rates and the promotional rates for illustration only. To find out the latest board rates, please visit ▇▇▇.▇▇▇▇.▇▇▇.
2 Promotional rate(s) is/are subject to revision. The promotional rate(s) stated above are applicable only at time of publishing. Please obtain the latest applicable rate(s) from any OCBC Bank or OCBC Al-▇▇▇▇ ▇▇▇▇▇▇ or ▇▇▇.▇▇▇▇.▇▇▇.▇▇.
Fixed Deposit. The demand draft or banker’s cheque shall be drawn on any scheduled bank in India or a commercial bank in the country of the bidder, in favour of the “Director, AIIMS Bhopal”, payable at Bhopal. In case of bank guarantee, the same is to be provided from any scheduled bank in India or by a commercial bank in the country of the tenderer as per the format specified under Chapter-4. The ▇▇▇▇▇▇▇ money shall be valid for a period of one year from the date of opening of Technical bid. As validity period of Tender will be of 6 months, the EMD shall be valid for 365 days from Technical Bid Tender opening date. Unsuccessful bidders’ ▇▇▇▇▇▇▇ money will be returned to them without any interest, after expiry of the tender validity period, but not later than thirty days after conclusion of the resultant contract. Successful bidder’s ▇▇▇▇▇▇▇ money will be returned without any interest, after receipt of performance security from that bidder(s). ▇▇▇▇▇▇▇ Money is required to protect the purchaser against the risk of the Bidder’s conduct, which would warrant the forfeiture of the EMD. ▇▇▇▇▇▇▇ money of a Bidder will be forfeited, if the Bidder withdraws or amends its tender or impairs or derogates from the tender in any respect within the period of validity of its tender or if it comes to notice that the information/documents furnished in its tender is incorrect, false, misleading or forged without prejudice to other rights of the purchaser. The successful bidder’s ▇▇▇▇▇▇▇ money will be forfeited without prejudice to other rights of Purchaser if it fails to furnish the required performance security within the specified period.
Fixed Deposit. (“FD”), Fixed Deposit-i (“FD-i“), Premier Booster Account (“PBA”) and Premier Booster Account-i (“PBA-i”) are insured by PIDM. Base Interest/Profit
Fixed Deposit. Receipt issued by any Nationalized /Schedule Indian Bank or a foreign Bank approved by R.B.I., acceptable to the employer.