Can you please get the notes on Floating Rates and Time Deposit which come under Retail Banking subject at Indian Institute of Banking & Finance (IIBF)?

Don’t worry I will get the Indian Institute of Banking & Finance (IIBF), notes on Floating Rates and Time Deposit which come under Retail Banking subject so that you can check it easily.

Here are some details

Eligibility: Any individual can open the account singly or jointly

Minimum amount: The minimum amount of deposit is Rs 1000 and multiples thereof. Maximum amount is Rs.15lakhs

Period of deposit: 1, 3 and 5 years

Interest rate: The interest will be reset every time that the base rate is changed with an upper cap of 200 base points above the fixed term deposit rate. Interest will be paid quarterly/monthly discounted

Liquidity: Loan/overdraft can be availed against the FRTD (Floating rate term deposit) up to a maximum of 90% of FRTD amount at 1.5% interest above the interest paid on the deposit.

Automatic renewal: The deposit will be renewed automatically for same period as that of matured deposit at the interest rate prevailing at the time of maturity, unless instructed otherwise by the depositor

Premature withdrawal: Interest to be paid on premature withdrawal of term deposits is at 1.00% below the term deposit rate applicable for the period the deposit has remained with the Bank.


Floating Rates and Time Deposit




Address:-
Indian Institute of Banking & Finance (IIBF)
191-F, Maker Towers, 19th Floor,
Cuffe Parade, Mumbai - 400 005

Phone:-
022-2218 3302 / 2218 5134