Home || Fixed Deposit Account

T Bank offers investment avenues for all strata of the society under the fixed deposit scheme. The return on investment on this scheme is the highest but vary based on the investment period beginning from 45 days to 120 months. The scheme is suited for those wishing to invest for tomorrow. Under this scheme fixed amount of money is deposited for a fixed period of time as above and paid principal amount with accrued interest to the account holder as maturity value. The money deposited in this account cannot be withdrawn before the maturity. However, in case of exigency of fund, bank allows to close the account prior to maturity date. In such cases, the bank applies 1% less from the maturity rate as on that date for the completed deposit period. The following are some of the features of this deposit account,

Eligibility:

  • All Bhutanese Individuals, Businessmen, Business Houses, Sole Proprietary Concerns, Partnership Firms, Companies, Clubs, Associations, Trusts, Government/ Local Bodies/ Religious Bodies, Cooperative Societies, International Organizations and Diplomatic Missions etc. are eligible to open Fixed Deposit Account.

Checklist of documents required

  • For Bhutanese Individuals
  •             – A copy of CID and 2 copies of passport sized photographs.

  • For Non-Bhutanese individuals:
  •             – A copy of Voter Card or Passport/ Work Permit and 2 copies of passport sized photographs.

  • For others as mentioned above:
  •             – A copy of valid Business License/ Certificate of Incorporation/ Article of Association/ Partnership Deed. Two copies each of passport sized photographs of Directors/ Partners/ Persons authorized to operate the Account. BIT/CIT Numbers

Utility:

  • The investment period and the amount of investment can be decided by the account holder at his/her convenience in the multiple of Nu. 500/- within a period of 45 days to 120 months as tabulated by the bank.
  • The overdraft facility can be availed by pledging this fixed deposit amount.

Maintenance

  • Withdrawals are not allowed from the account. However, based on the depositor’s need during the currency of the deposit, the depositor/account holders have the option of seeking maximum of 90% overdraft facility against the account or terminate the account prematurely. In the event of closure of account prematurely the bank applies 1% less from the maturity rate as on that date for the completed deposit period.
  • The amount can be deposited only once. For further such deposit separate account needs to be opened.
  • The fixed deposit receipts are non transferable.
  • Unrestricted amount of Deposit & Withdrawals.
  • It cannot be linked with ATM cards.
  • It cannot be linked with Internet and SMS Banking Services.
  • No funds can be transferred through this account.
  • The account can be operated either singly/jointly or either or survivor (EOS).
  • No hidden fees or maintenance charges attached.
  • The account can be opened in the multiple of Nu. 1,000.00.
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