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Deposit Policy

find out about our deposits policy

Policy on Bank Deposits Policy:

Deposit Policy - find out about our deposits policy

This policy document on deposits outlines the guiding principles in respect of formulation of various deposit products offered by the Bank and terms and conditions governing the conduct of the account. The document recognises the rights of depositors and aims at dissemination of information with regard to various aspects of acceptance of deposits from the members of the public, conduct and operations of various deposits accounts, payment of interest on various deposit accounts, closure of deposit accounts, method of disposal of deposits of deceased depositors, etc., for the benefit of customers. It is expected that this document will impart greater transparency in dealing with the individual customers and create awareness among customers of their rights. The ultimate objective is that the customer will get services they are rightfully entitled to receive without demand.

While adopting this policy, the bank reiterates its commitments to individual customers outlined in Banker's Fair Practice Code of Indian Bank's Association. This document is a broad framework under which the rights of common depositors are recognized. Detailed operational instructions on various deposit schemes and related services will be issued from time to time.

Information published in the Deposit Policy Document:

  • Type of Deposit Accounts.
  • Account Opening and Operation of Deposit Accounts.
  • Interest Payments.
  • Minor's Accounts.
  • Accounts of Illiterate / Blind Person.
  • Addition/Deletion of Joint Account Holders.
  • Customer Information.
  • Secrecy of Customer Accounts.
  • Premature Withdrawal of Term Deposit.
  • Premature Renewal of Term Deposit.
  • Renewal of Overdue Term Deposit.
  • Advances against Deposits.
  • Settlement of Dues in Deceased Deposit Account.
  • Interest Payable on Term Deposit in Deceased Account.
  • Insurance Cover for Deposits.
  • Stop Payment Facility.
  • Dormant Accounts.
  • Safe Deposit Lockers.
  • Redressal of Complaints / Grievances.

Click to Download the Bank's Deposit Policy Document (PDF) for your reference and printing.