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Updated 04 Oct 2023
Fixed Deposits (FDs) are a popular form of savings, especially in India, where people prefer safe and guaranteed returns. Thane Bharat Sahakari Bank, with its vast network and rich history, is a preferred choice for many regarding FDs.
But how does one open an FD account with Thane Bharat Sahakari Bank? This blog will guide you through the entire process, eligibility criteria, and required documents and answer frequently asked questions about the same.
Visit the nearest Thane Bharat Sahakari Bank’s bank branch.
Obtain and fill up the form to create a fixed deposit indicating the period, amount, and other preferences.
Submit the form and a copy of your Aadhar and PAN card; the bank officials will process the form and create an FD.
Identity proofs
Address proofs
How is a Bharat Deposit different from a regular FD?
This is a tax-saving FD, which has a lock-in period of 5 years. No premature withdrawals, overdrafts, or loan facilities are available under this scheme. Whereas one can have a regular FD for any tenure as per an individual's choice, and they are eligible for premature withdrawals and overdrafts or loan facilities.
How is premature withdrawal made in case of death?
In case of the account holder's death, the premature withdrawal of a fixed deposit can be made by the nominee or legal heir of the deceased account holder. The nominee or legal heir must provide the bank with a copy of the death certificate and other required documents.
The bank may also require the nominee or legal heir to give a succession certificate or a letter of indemnity according to its policies. The bank will pay the premature withdrawal amount to the nominee or legal heir. In most cases, the penalty for premature withdrawal is not applicable in such cases.
Is the ₹5 lakhs DICGC insurance cover applicable on Thane Bharat Sahakari Bank FD?
Yes, DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance cover of ₹5 lakhs is applicable on Thane Bharat Sahakari Bank FD.
Can renewal instructions be changed to an active fixed deposit?
Yes, you can change the renewal instructions of your active term deposit. You can get in touch with your respective branch for such instructions.
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.
