Suryoday Bank Fixed Deposit

Features of Suryoday Bank Regular Fixed Deposit

Key features of the regular fixed deposit from Suryoday Bank are:

1. Minimum amount is Rs.1,000 and multiples of Rs.1 thereafter
2. FDs can also be opened for a minimum tenure of 7 days
3. The FD is available in cumulative/re-investment form or as a traditional plan.
4. The interest rate paid for the FD may change based on the tenure of deposit. When the tenure is up to 6 months, the calculation is based on simple interest. The interest is compounded only for re-investment fixed deposits.
5. The FD can be opened for a minimum duration of 7 days to a maximum of 10 years.
6. Premature withdrawals will have a rate that is 1% lesser than the lower of the following:
   1. Rate for contracted/original tenure for which the FD was booked.
   2. Rate for the actual tenure for which the FD was in force.
7. PAN is mandatory if the total fixed deposit holding is more than Rs.50,000 per customer.

Documents Required to open Suryoday Bank Fixed Deposit

The documents required to open an FD with Suryoday Bank are one certified copy of any of the following Officially Valid Documents (OVD) as ID proof and one as address proof:

1. PAN Card or Form 60
2. Passport
3. Driving License
4. Voter's ID card
5. Job Card that is issued by NREGA and is signed by a State Government official
6. Aadhar Card or letter issued by the Unique Identification Authority of India
7. Any other valid document, as notified by the Central Government

In addition to the above, a recent photograph of the applicant is also needed.

Proprietary firms, trusts, associations, and partnership firms would require additional documents for opening an FD, such as Registration Certificate, Sales Tax Returns, CST/VAT Certificate, etc. The applicant should consult a bank official or visit the bank's website for the complete list of documents.

Suryoday Bank Senior Citizen Fixed Deposit

The salient features of the Senior Citizen FD are as follows:

1. The senior citizen should be above 60 years of age and a resident of India
2. The minimum amount that can be deposited in a senior citizen FD is Rs.1,000.
3. The minimum tenure of the FD should be at least 7 days.
4. The interest rate offered is higher by 0.50% p.a.
5. As mentioned above, the applicant should invest a minimum amount of Rs.1,000 to open the FD.
6. The FD is available as re-investment/cumulative plans or in the traditional FD format.
7. The rate of interest applicable varies according to the FD tenure.
8. The bank provides the option of auto-renewing the FD when the term ends. If the account holder does not opt for renewal of the FD, the principal and interest is credited to the account that the customer has with the bank.
9. An FD can be opened for a minimum term of 7 days and a maximum term of 10 years.
10. The rate applicable on the premature withdrawal of the FD would be 1% lower than the smallest among the following rates:
    1. Original/contracted tenure rate for which the deposit was booked.
    2. The rate for the actual tenure for which the FD was in force.
11. It is mandatory to furnish a PAN Card to book an FD if the total holding exceeds Rs.50,000 per customer.