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It account you will also be given a Product Schedule, which will apply to the particular Term Deposit account. Together, these documents comprise the Bank s Product Disclosure Statement (PDS) for the particular Term Deposit account you have with us. You should read both these documents carefully and retain them for future reference. Copies of each of the documents can be made available to you on request from our Customer Help Centre or Customer Service Centres or can be viewed at bankwest.com.

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A term deposit lets you lock away a lump sum of money for a set length of time (the 'term'). During this term you won't have access to your money. However, in return you'll get a guaranteed rate of interest. That means you'll know from the outset exactly what the return on your money will be.

With a term deposit, you lock away an amount of money for an agreed length of time (the 'term') – that means you can't access the money until the term is up. In return, you'll get a guaranteed rate of interest for the term you select, so you'll know exactly what the return on your money will be.

Features. Interest on a Term Deposit is payable to the depositor quarterly from the date of issue or at maturity along with principal. But on request from the depositor, interest may be paid at monthly, half-yearly or yearly intervals in case of Term Deposits fixed for a term of twelve months and above.

A Fixed Deposit cannot be closed online where the physical FD receipt has been issued through the branch. Tenure in Standard Deposit: Cumulative Deposit: Minimum - 6 months, Maximum -10 years. Traditional (Non-Cumulative) Deposit: Periodic Interest (On Maturity): Minimum - 7 days, Maximum - 91 days.

Term deposits offer a fixed rate of interest over the life of the investment. Term deposits are risk-free, safe investments since they're either backed by the FDIC or the NCUA. Various maturities allow investors to stagger end-dates to create an investment ladder. Term deposits have a low minimum deposit amount.

(i) No deposit shall be withdrawn before the expiry of 1 year from the date of deposit. (ii) If account is closed after 1 year and before 3 year from the date of account opening, a deduction equal to 2% from the principal will be deducted and remaining amount will be paid.

Penalty - If you wish to take your FD out before it matures, you will have to pay a penalty. As a penalty, a bank typically levies 0.50% to 1.00% of the interest. The bank reserves the right to alter the applicable penalty.

Typically, the minimum deposit amount ranges from Rs 1,000 to Rs 10,000, depending on the bank. On the other hand, there is no maximum limit for FDs, allowing investors to park substantial amounts. Tenure and Premature Withdrawal: FDs are known for their fixed tenures, ranging from 7 days to 10 years or more.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232