A Reinvestment fixed deposit account may be opened by any person, individual, minor/HUF/Firm/Company/Club/Trust/Society/Association etc.
Deposits are accepted for fixed period.
Nomination facility available.
Interest is compounded on quarterly basis and payment thereof is made on date of maturity.
No TDS on interest payment on the deposits of members of the Bank.
Premature payment available (certain terms & Condition apply)
Loan facility against the Deposit available.
KYC not required, if already having Saving or Current Account with the Bank.
All other rules & regulations of fixed Deposit A/c(except Payment of simple interest) are also applicable to Reinvestment of special fixed Deposite A/c.