A deposit product in which the customer can get the facility of both products of Fixed Deposit and Recurring Deposit in an integrated form at a predetermined rate of interest for a fixed period shall be called Integrated Fixed Recurring Deposit(IFRD).
- Salient Features
1. Tenure -1 to 10 years
2. Interest Rate–Industry maximum rate on Fixed Deposit.
3. Minimum Initial IFD amount– Rs25,000 to Rs 10,000,00 in the multiple of Rs25000 only.
4. USP- Integrated Fixed Recurring Deposit:
- Free ASBA facility
- Free D-mat account opening facility
- Special discount on Mobile banking facility
- One percent increment on interest rate as confirmed through remittance
- Insurance coverage as per the rules of organization.
5. Benefits to Valued Customer:
- Better investment option
- 200% increment on original investment (Customer opting long term option)
- Creation of handsome fund for retirement, children education, and others assets purchase on future