FIXED DEPOSIT | Terms & Conditions

  1. The interest on fixed deposit shall be due on the maturity date in accordance with the rates, rules and regulations applicable at the bank.
  2. The deposit with the interest charged thereon shall be due only the date of maturity mentioned on the front of the receipt, in accordance with the regulations in force at the bank.
  3. Unless new instruction have been provided by the customer the deposit shall expire on the agreed date of expiry and the deposit value in addition to the interest will be registered to the customer account.
  4. No withdrawal by means of cheques can be made from fixed deposit account and no ATM card or credit card may be issued, thereon.
  5. The credit of the amount of the deposit and the interest thereon to the customer account on the date of maturity shall be deemed a release of the bank from liability towards the customer. In such event, the receipt that has been previously delivered to the customer in respect of the deposit shall stand cancelled.
  6. In the event where the customer requests premature break of the deposit and the bank agrees to this, the customer has no right to collect any interest, all interest paid previously to the customer shall be reversed up to the date of breaking the fixed deposit, the bank shall have the right to collect the paid interest from the fixed deposit account in accordance with the regulations in force at the time.
  7. All the relevant terms and conditions set forth in the application for “opening an account” shall apply except for the terms conflicting with the above mentioned.