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FD Scheme For Road Accident Victims

The scheme is to facilitate the claimants of victims of road accidents to place the funds received from the Motor Tribunal as per court orders under the maximum interest category of Fixed Deposit.

Eligibility: Any individual/dependent (singly or jointly with others), minors of 10 years and above in his own name and below 10 years under guardianship shall be eligible to open under the scheme provided there are Court orders in support of the claim in his/their names.

Interest Payment : The interest may be paid on monthly basis. The monthly interest will be paid at discounted rate.

Period of Deposit: For any period 12 months to 120 months.

Automatic Renewal: The auto renewal will be done for the period prescribed by the court.

Interest: 1% above CARD rate of interest as applicable for normal Fixed Deposit scheme for various Tenors.

Premature Cancellation/part withdrawal: No premature cancellation/ part withdrawal is permitted.

Loans & advances: No loan & advances is permitted under the scheme.

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