Smart Deposits

Features

Tenures available for two, three, four, five, seven and ten years
Available in USD, USD, GBP and EUR
Choose to have interest paid monthly, bi-annually or on maturity
Minimum deposit, USD 30,000 or USD 10,000 (or an equivalent amount in any other currency)

Applicable for USA residents and non-residents
Salaried and non-salaried
Minors are eligible, but deposit account must be opened and operated on the instruction of the minor’s father or court-appointed guardian

Completed Fixed Deposit application form
Copy of a valid passport/resident visa/National ID (originals must also be presented)

Note: Additional documents may be required on a case-by-case basis

Interest will be paid only if the deposit is retained for a minimum period of 6 months
Customer should have an existing account for funding the Smart Deposit. The Smart Deposit will be opened in the same currency of the account and the proceeds will be credited to the same currency account
Partial withdrawal is not allowed, but the Bank may at its sole discretion allow a premature withdrawal of the whole of the Smart Deposit. The Customer accepts that by doing so, the Fixed Deposit may be subject to a lower interest and premature withdrawal fee. If the interest earned has already been paid to the Designated Account under the "Monthly Interest Payment" or the "Half Yearly Interest Payment" option, the excess amount paid as interest will be recovered from the principal amount
In the case of a Smart Deposit withdrawn in full within 6 months of making the Deposit, a fee of USD 100/- shall be payable by the Customer and the Customer shall not be entitled to any interest
In the case of a Smart Deposit withdrawn in full after 6 months of making the Deposit, a fee of USD 100/- shall be payable by the Customer and the Customer shall be entitled to 50% of the interest rate, for the period that the deposit has been maintained.

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