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ARUNACHAL PRADESH STATE CO-OPERATIVE APEX BANK LTD

(Sponsored by Government of Arunachal Pradesh)

Head Office :: D-Sector, Naharlagun, District : Papum Pare, Arunachal Pradesh - 791 110

NSTFDC     CMFMP     Micro Finance SHG

FIXED DEPOSITS

Opening of Account
One or more than one account can be opened by a person/s with proper introduction and the account shall be opened subject to submission of KYC documents as notified in the bank’s web-site. The following can open accounts:

  1. Individuals Account on his/her behalf.
  2. Joint Account by two or more persons to be operated by any one or more or survivor/survivors.
  3. Minor Accounts below the age of 14 yrs to be operated by parents/Guardian, with a provision to operate the account by the minor after attaining 14 yrs of Age. by declaring the date of birth of the minor.
  4. Registered Clubs, Associations, Charitable and Religious Institutions – subject to submission of rules, bye-laws and other KYC documents of the authorized.
  5. Co-operative Societies, NGO’s, SHG’s and Farmer Club’s etc-subject to submission of rules,bye-laws and other KYC documents of the authorized.
  6. State and Central Govt. Department’s/ PSU’s/Panchayat Bodies/Municipalities Agencies/Boards and Comities etc. -subject to submission of rules,bye-laws and other KYC documents of the authorized.
  7. A HUF, a partnership firm, proprietary concern, charitable institution/ Trust, a company or Association etc.

Rate of Interest
The deposit will earn interest at the rate fixed by the bank from time to time depending upon the period of the deposit.Interest is payable monthly/quarterly/half yearly/on maturity.

Period of Term Deposits

Interest Rates

Interest Rates for SENIOR  CITIZEN

7 days to 90 days

7.75

8.00

91 days to 180 days

7.75

8.00

181 days to  less than 1 year

8.00

8.25

1 year to less than 2 year

9.25

9.50

2 years to less than 3 years

9.25

9.50

3 years to less than 5 years

9.25

9.50

5 years  & above

9.25

9.50

Deposit receipt
Deposit receipt will be issued incorporating all the necessary information i.e., due date, interest rate, period of deposit, repayment condition etc. In case the deposit receipt is lost, a duplicate receipt will be issued against a letter of request and on furnishing an agreement of indemnity agreeing to indemnify the Bank incase of claims from any other person.

Amount of Deposit

  • Minimum: Rs.500/- and in multiple of Rs.100.00
  • Maximum: No limit

Period of Deposit
The Depositor shall at the time of opening the account, stipulate the period for which the deposit is to be made. The period of deposit shall be not less than 15 days and maximum upto 10 years.

Encashment
The deposit on maturity or premature may be encashed through SB account maintained in the Bank branch after propercan be encashed after properly discharge of the FDR by the account holder. Due date will be recorded on the deposit receipt to enable the depositor either to receive payment of the amount due or to arrange for the renewal of the deposit.

Pre-mature encashment
In case of pre-mature encashment of deposit, the interest applicable will be rate of interest of the corresponding period for which the amount is actually parked with the Bank less (1) one percent penal interest as per bank norms.

The Bank reserves to itself the right to alter/add/delete to these rules at any time. For this purpose, the Bank shall not be required to give a separate notice to each account holder. All announcements of any change in the rules, displayed on the Bank’s notice board or published in the Press/ bank’s web-site  shall be deemed to be sufficient notice to all account holders.