Tax Saving Fixed Deposit FD 5-Year Tax Saving FDs

Accountholders should exercise care when drawing cheques and should not draw cheques by any means, which may enable a cheque to be altered in a manner, which is not readily detectable. Upon receipt of a cheque book or before use, you should check the cheque serial number, account number and your name printed on the cheques and the number of cheques, and report any irregularity to us as soon as reasonably practicable. You are responsible for keeping your cheque books and cheques safe from loss, theft or unauthorised access or use, under lock and key or taking other safeguards as appropriate. You may make withdrawals from your Savings Account at our counter during business hours of our branch. Where a Savings Account is closed during an interest period whether by you or by us for any reason, interest is payable only up to the last calendar day before closure.

In the event of change in employment status, the benefits applicable to the Salary/ reimbursement account stand to be modified. The joint a/c holders agree to these terms and will not dispute the same due to change in employer status of the primary A/c holder. ICICI Bank reserves the right to discontinue the services/benefits at any time without prior notice to the family members.

Top FD Interest Rates 2021

Foreign exchange earned and/or gifts received from close relatives and repatriated to India through normal banking channels by resident individuals. Foreign exchange earnings could be through export of goods and/or services, royalty, honorarium, etc. (No restriction on minimum or maximum amount of deposit.)8Rate of InterestBank’s bucket-wise rate of interest on term deposit applicable for the period as mentioned in court order would be applicable.

The bank will not accept the declaration where the amount of income exceeds the maximum amount which is not chargeable to tax. For deciding the eligibility, the bank is required to verify income reported by the customer in columns 16 and 18 in form 15G. HSBC bank (“the bank”) will allot a unique identification number to all Form No. 15G received during a quarter of the financial year from a customer.

Teller is a staff member of a bank who accepts deposits, cashes cheques and performs other banking services for the public. Real Time Gross Settelement is a fund transfer mechanism that enables money to move from one bank to another on a real time and gross basis. Simply put, real time means the transaction is settled instantly without any waiting period and gross means that it is not bunched with any https://1investing.in/ other transaction.You can transfer a minimum of Rs. 2 lakh through RTGS; there is no upper ceiling though. RTGS is the fastest inter-bank money transfer facility available through secure banking channels in India. When a banker combines two accounts in the name of the same customer and adjusts the debit balance in one account with the credit balance in the other account, it is called right of set-off.

CHAPTER – 2 : MONEY

These terms and conditions pertaining to the Savings Family Banking product (‘Family Banking Terms’) as mentioned in this section of the terms and conditions are in addition and not in derogation to ICICI Bank’s savings bank account Terms and Conditions. To the extent of any inconsistency, the terms and conditions as set out herein for Savings Family Banking product shall prevail for all intents and purposes with respect to Savings Family Banking product only. These terms and conditions pertaining to the Privilege Banking Saving nostro vostro loro Account, Gold Savings Account & Titanium Savings Account as mentioned in this Section of the terms and conditions are in addition and not in derogation to ICICI Bank’s savings bank account Terms and Conditions. To the extent of any inconsistency, the terms and conditions as set out herein for Privilege Banking Saving Account, Gold Savings Account & Titanium Savings Account shall prevail for all intents and purposes with respect to Privilege Banking Saving Account, Gold Savings Account & Titanium Savings Account only.

The items deposited in any CDB will be sent by the Bank for clearing within the period as indicated on the box but not later than 2 days. We shall accept responsibility for the documents/ instruments deposited after we have received, checked and verified the same, in accordance with its practice, and this shall be final, conclusive and binding on you. We have no obligation to act on an Instruction to stop payment if we are unable to verify its authenticity, unless we have made any special arrangement with you. Notwithstanding that, we may act on an Instruction at our discretion if we believe in good faith that it is given or authorised by you without being liable in any circumstance and you will be bound by that Instruction even if it is incorrect, false or unclear or if it was not given or authorised by you. You should confirm an Instruction as soon as reasonably practicable in a manner accepted by us. You authorise us to contract with collecting banks and other persons in relation to the arrangements and matters set out in paragraph above.

Non-Resident Accounts

The credit for the TDS can be claimed by the person in whose hands the minor’s income is included. For deciding the eligibility, the bank is required to verify income or the aggregate amount of incomes, as the case may be, reported by the customer in columns 15 and 17 in form H. Please designate the account from where you would like the TDS amount to be deducted for all existing accounts. Please also provide details of the designated account as and when you renew/place additional deposits with HSBC India. In case of cumulative Fixed Deposits the interest is compounded quarterly at the prescribed rate and is paid to the accountholder along with the principal at the end of the term.

• ICICI Bank reserves the right to discontinue this service at any time without prior notice to the Customer.
• Any notice from ICICI Bank in respect of the Young Stars Account/Debit Card may be given by ICICI Bank by delivering it to the Guardian/parent personally or by posting it to the latest address recorded with ICICI Bank.
• Further, a cheque is accepted subject to final payment or clearing.
• These terms and conditions pertaining to (“ Terms”) as mentioned in this Section of the Terms and Conditions are in addition and not in derogation to ICICI Bank’s savings bank account Terms and Conditions.
• All other charges for services as presently applicable for normal Savings Bank Account are to be levied and recovered.
• The renewal will be in accordance with the provisions of the relevant Reserve Bank of India scheme in force at the time of renewal.

The Woman Debit Card shall be issued at an annual fee of Rs.150/- and which fees shall be subject to change, at the sole discretion of ICICI Bank, post giving a one-month prior notice to the Woman Cardholder. For any other fees and charges applicable on the Woman Debit Card, the Woman Cardholder shall need to refer to the details in the Tariff Annexure of Debit Card. ICICI Bank shall not be liable for any failure to perform any obligation contained in these POA holder terms and conditions or for any loss or damage whatsoever suffered or incurred by the POA holder howsoever caused and whether such loss or damage is attributable to any dispute or any other matter or circumstances whatsoever. ICICI Bank shall not be responsible for ensuring that the POA holder operates the Account for the purposes mentioned in the POA or for monitoring the transactions carried out by the POA holder in any manner whatsoever. Any dispute regarding the operation of the Account by the POA holder shall be settled by the Customer directly with the POA holder without any reference to ICICI Bank.

Products and Services

MICR code allows money to drop directly into your bank account for payments such as salaries and dividends. Your tax refund will come to you faster if you remember to mention this on the refund form. Refunds of unwanted money in initial public offers, too, drop back if you put down your code on the application form. The scope of the drop box services shall be as determined by the Bank from time-to-time and may include, but not necessarily and among other things, deposit of cheques, bills of exchange, warrants, payment warrants and other payment instruments. The drop boxes shall not be used for dropping cash and/or post-dated cheques and/or high value cheques and/or bearer cheques and the Bank will not be responsible/liable for such items deposits.

Each depositor is insured by the Deposit Insurance and Credit Guarantee Corporation up to a maximum of Rs. 5 lakh, for both principal and interest amount held by him in the same right and same capacity. Also, the Customer declare/s that all the information voluntarily furnished by them to the Bank are true, correct and complete. For any other reasons as the Bank deems fit with prior notice to the Customer.

Importance of the Money Market

You should not disclose your Phonebanking PIN or allow any other person to use your Phonebanking PIN . You should not keep a written record of your Phonebanking PIN in any way that may enable another person to use it. You should promptly report to us any loss, theft, disclosure or unauthorised use of your Phonebanking PIN. You are responsible for all transactions effected by the use of your ATM Card . However, in case of any loss, theft, disclosure or unauthorised use of your ATM Card, you should report to us immediately followed by a written confirmation as soon as reasonably practicable, and you will be responsible for all transactions effected whether voluntarily or not by the use of your ATM Card until we receive your report. We have no obligation but may issue a replacement ATM Card to you and may debit a handling fee from any Account.

Under no circumstances shall the Bank be liable to the Customer for any indirect, incidental, consequential, special or exemplary loss or damages in connection with the Account or the Services. All notices in connection with the Services or the Account by the Customer to ICICI Bank shall be in writing and sent to the address as provided below and all notices shall be deemed to be received by ICICI Bank only upon acknowledgment of receipt of the same in writing by ICICI Bank. Unless otherwise agreed or specified herein, any notice or other communication may be delivered to the Customer personally. General communication of information from the Bank to all Customers as a whole or to any sub-group of Customers may, if the Bank acting reasonably considers it appropriate, be effected by means of publication of a notice on the Website , or by the putting of prominent notices on the Bank’s premises. The Account and the Services provided to the Customer are not transferable under any circumstance and shall be used only by the Customer.

All other deposits may be tendered in any other acceptable currency but are maintained in Indian Rupees. The bank will allot a unique identification number to all the Form No. 15H received during a quarter of the financial year from a customer. The bank will report the number along with prescribed particulars in the TDS statement furnished for the quarter, to the Income Tax authorities. In case Form No.15G has also been received during the same quarter, the bank will allot a separate series of unique identification number to Form No.15G.

• In the absence of any special arrangements, the Bank is not required to honor any cheques drawn by the accountholders if in doing so the account would become overdrawn and in these circumstances the Bank reserves the right to debit the account with the charge for each returned cheque.
• In the event ICICI Bank receives intimation from any source of termination of the employment with the Employer, ICICI Bank reserves the right to close/freeze the ERA with or without any further notice.
• UPI Facility shall be available to customers who have registered for the facility as per the discretion of Banks, NPCI and RBI.
• However, fees shall be subject to change, at the sole discretion of ICICI Bank, post giving a one-month prior notice to the The ONE Account Cardholder as per the standard terms and conditions of ICICI Bank’s Debit Cards.
• In line with the requirements of the Bank’s policy, the Know Your Customer documents along with other documentation need to be submitted at the time of opening a new account or as and when requested by the Bank.
• The Customer agree and confirm that the details furnished at the time of Account opening are true and correct to the best of his/her/their knowledge and belief, and he/she/they undertake to inform ICICI Bank of any changes, immediately.

These Terms and Conditions form a contract between the Applicant/Customer and ICICI Bank. The Applicant/Customer shall apply to ICICI Bank in the prescribed AOF for opening and operation of the Account and availing of the related Services. “Website” refers to the website owned, established and maintained by ICICI Bank at the URL “Services” shall mean the services provided by ICICI Bank in connection with the Account and more particularly described in these Terms and Conditions. “Account Opening Form” or “AOF” refers to the relationship form for Account, whether electronic or otherwise. It enables funds for businesses to grow and hence is responsible for the growth and development of the economy.

When a Court directs a bank to attach the funds to the credit of customer’s account under provisions of Section 60 of the Code of Civil Procedure, 1908. Equated Monthly Installment refers to the monthly payment a borrower makes on his loan. Though it is a combination of interest payment and principal repayment, the total monthly amount is calculated in such a way that it remains constant all through the repayment tenure. Current account with a bank can be opened generally for business purpose.