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Fixed Deposit Account

Announcements

No postal applications will be accepted for new Retail Deposits with effect from 02-08-2016, till further notice. View More...

Bank of India is authorised in UK by Prudential Regulation Authority (PRA) and regulated by PRA & Financial Conduct Authority (FCA). Our financial service registration NO. is 204629 | A member of Fin View More...

Customer attention please: No Transaction Payments allowed w.e.f. 01/02/2019. Only viewing facility is available for all the Internet Banking Customers View More...

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Fixed Deposit Account

Eligibility

Fixed deposit account/s can be opened by an individual, body corporate, partnership firms, trusts, associations and any other body/associate which we may consider appropriate for opening the account.

Minimum Amount

Individuals - GBP 1000.00 or equivalent in other currencies

Others

GBP10000.00 or equivalent in other currencies

The Fixed Deposit account is a non - withdrawal account. All transactions to and from this account will be through a Call, Current or Savings Account, which must be opened by you when placing funds in the Fixed Deposit Account, if such an Account is not already opened.

Interest

Interest is payable at the agreed rate to be decided between us and you at the time of placing the funds or at renewal. The indicative interest rates for various maturity dates are available on our website and through our Branches. Interest rates on various maturity dates may change and such changes will be published on our website.

Period

Minimum 1 month and maximum 60 months.

Withdrawals before the maturity date: Premature withdrawals in fixed deposit are permitted. No interest will be paid on deposits withdrawn within 30 days of account opening of fixed deposit. Where withdrawals are made after 30 days, but before the maturity date, the interest payable will be 0.10 % less than the applicable interest rate for the actual period it has run / completed at the time of breaking / payment. Prior notice of two working days will be required for withdrawals before the maturity date.

Receipt

An advice would be mailed to you after your Fixed Deposit Account has been opened.