Advantage Fixed Deposit (AFD) is a type of Fixed deposit scheme exclusively for senior citizens. To suit the needs of the customers, the bank have introduced variations in maturity period of the AFDs. In terms of RBI directives the minimum period for which term deposits can be accepted is 15 days. The banks generally do not accept deposits for periods longer than 10 years.

• Eligibility for opening of Advantage FD A/C

  Resident Individuals who have attained age of 60 years or above.



• How to open

  Should submit the dully filled & signed Account opening form along with;

  • Specimen Signature.
  • Photograph of the operator.
  • ID proof of operator as per KYC norms.( (a) Passport (b) Ration card containing Photograph (c) Driving License (d) PAN card (e) Voters Identity card (f) Unique Identity card issued by the Government of India.)
  • Address proof.
  • Proper introduction
  • PAN card copy for deposits more than   ` 50000/-
  • Initial deposit


• Facilities
  • Nomination facility is available on FD A/cs
  • The Bank allows loan to the depositors up on the security of the AFDs at a maximum amount of 90% of the amount deposited. For more details about deposit loans please visit the page ‘ deposit loan ’ in this site.
  • Standing instruction facility such as transferring the interests monthly/quarterly to a particular SB/Current Account and transferring the matured FD to a particular account would be entertained


• Interest Rates

  The Bank will provide an additional interest of 0.5% than for the ordinary fixed deposits, according to their maturity periods. Please visit the page of Interest rate on deposits.