Frequently asked questions on Fixed Deposits.


1. What is the range of tenure for which I can open a FD account?
The tenure of the fixed deposit depends upon the requirement of the cutsomers.

2. At what frequency will I receive interest on my FD?
Interest earned on your Fixed Deposit shall be credited to your account on a quarterly basis in the month end of Aswin, Poush, Chaitra and Asad.

3. Is TDS applicable on FDs?
Tax is deducted at source, from the interest on Fixed Deposits, as applicable, as per the Income Tax Act, (Individual: 5% and Corporate: 15%).

4. How do I approach Citizens Bank to open a FD?
You can just walk into any of our branch locations.

5. Will I get a FD receipt?
Yes, we will deliver it to you at the time of opening your account.

6. Can I redeem my FD before the original term?
Yes, FD can be closed before the original term of the FD. In the event of the Fixed Deposit being closed before completing the original term of the deposit, interest will be paid at the rate applicable on the date of deposit, for the period for which the deposit has remained with the Bank. In case of premature withdrawal the deposit may be subject to penal rate of interest as prescribed by the Bank on the date of deposit.

7. Can I obtain a loan from Citizens Bank on the security of my FD?
Yes, Loan facility is available up -to 90% of principal. You can just walk into any of our branches.

8. Is there any auto renewal facility available on FDs?
Yes, you can opt for auto renewal at the time of opening the FD or anytime before the FD matures. Auto renewal allows your FD to get renewed automatically for the same period as the original deposit.

9. What are nomination facilities available on FDs?
You can nominate any individual at the time of opening FD or before maturity of the FD.