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Oriental Bank of Commerce Fixed Deposit in India



Flexi Fixed Deposit products offer liquidity in the shape of Savings / Current deposit funds as well as higher returns as are available on fixed deposit funds. Moreover, there is also an element of flexibility as the depositor can meet funds requirement without losing the interest, since transfer of funds to Savings / Current account is made available as an in-built arrangement whenever required by the depositor.  In nutshell, the scheme enables a depositor to get returns on his/her funds as a fixed deposit but at the same time retaining the character of liquidity which is available in Savings Banks/Current Account.


The Scheme is made available at all CBS branches and customer will have to fulfil following conditions for its availment:

  • Customer will have to open an operative Account (Savings or Current) under the Scheme (Flexi Fixed Deposit), if not maintaining one already. The Account Opening Form (AOF) shall continue to be the same as required for SB / CA. While obtaining Account Opening Form, the type of account will be marked as "FLEXI FIXED" on the AOF itself. The customer shall not be required to undergo formalities of getting issued separate fixed deposit receipts, whenever the funds are transferred from the Savings bank / Current account under the Auto Sweep.
  • In addition to the Account Opening Form, a Letter of Undertaking (Annexure II) and acknowledgement for Rules & Regulations (Annexure III) for carrying out the request for the fixed component of Amount and its Periodicity will be obtained from the customer (Proformae enclosed).
  • Resident Indian customers shall be eligible to open accounts under the scheme provided they maintain such account in Savings Bank/Current Account under specific category as detailed in Annexure I.
  • Flexi Fixed Deposit accounts shall be opened either singly or jointly.
  • To avail Flexi Fixed Deposit products, Staff, Ex-staff, Pensioners and Senior Citizens will have to maintain accounts under this scheme. However, concession in minimum balance requirement and penalty thereon for not maintaining minimum balance will not be available to these categories.


In case of new accounts, the initial deposit, as per the respective category under which the account is proposed to be opened, shall be the pre-requisite. In case of non-maintenance of minimum Average Quarterly Balance (as per Annexure I), penalty as specified against each category of Savings / Current account shall be levied in the account.


A deposit under the scheme shall be accepted for a period of 90 days to five years in flexi saving accounts and for 15 to 45 days in flexi current accounts. By default, it is 90 days in flexi Saving accounts and 15 days in flexi Current accounts.


The amount invested in the scheme shall attract rate of interest prescribed by the Bank on domestic Term Deposits from time to time. Simple/ compounded interest shall be booked on quarterly basis but liquidation of interest will be as applicable for the respective scheme.

Staff / Ex-Staff and Senior Citizens will be entitled for additional rates in Flexi Fixed Deposits as applicable in Domestic Term Deposits (as applicable to the category of depositor).

As per the extant rules, no premature payment penalty is levied if the amount of Single Deposit is up to Rs. 5 lacs. As such the provision of premature penalty shall be applicable on the amount of reverse sweep in case the amount held in Flexi Fixed Deposit (from which reverse sweep is made) is more than Rs. 5 lacs. The remaining balance of the FFD will continue to earn interest as per normal rate till maturity.


When the balance amount in FFD linked Savings Bank / Current account shall cross over the minimum balance, the excess, in multiple as applicable for different categories as per enclosed Annexure I, will be transferred automatically to Flexi Fixed Deposit account, for the time period as mandated by the depositor at the time of opening of account under the scheme.


Through reverse sweep facility, the amount lying in Flexi Fixed Deposit shall be available to the depositor whenever there is a requirement of funds in his / her / their operative account i.e. savings / current account. As such, whenever the depositor issues a cheque or uses ATM card and the available balance in his/her connected Savings/Current Account is not sufficient, Reverse Sweep will automatically withdraw the required amount from Flexi Fixed Deposit account and the remaining amount in FFD will continue to earn the same rate of interest, as agreed upon in the contract. In such event, the amount from flexi fixed deposit shall be transferred to his / her / their savings / current account by following the LIFO (last in first out) method.

However, the funds to be transferred as a reverse sweep to Savings Bank/Current Account will also meet the requirement of maintaining minimum balance.


In lieu of the regular Term Deposit Receipt, the Flexi Fixed deposit Pass Sheet shall be made available to the customers maintaining account under the scheme. A well established arrangement is already in place for generation and dispatch of this statement to the customers.  COPEC Secunderabad will issue pass sheet to the customers of all the branches of the Bank who maintain account under this flexi deposit scheme.  


No loan / OD in any shape shall be allowed against deposit held in Flexi Fixed Deposit Scheme.

  • Average quarterly balance to be increased to Rs25,000/
  • RTGS/NEFT to be allowed at 50% concession.
  • Speed Clearing with no charges ( Charges by Clearing House to be collected)
  • Free ECS debit and Credit
  • Instant credit of outstation cheques upto Rs25,000.
  • At Par collection of Government Cheques.
  • Free SMS facility
  • Free cheque books
  • Accident insurance coverage upto Rs1,00,000/.
  • Minimum sweep out amount to be raised from Rs 1,000/ to Rs2,000/
  • Sweep in amount is fixed at Rs.5,000/-

Saving Smart Save Gold modified as follows.

  • Threshold for transfer to Term Deposit from Savings deposit is Rs 50,000/
  • Average quarterly balance to be Rs50,000/
  • Free RTGS/NEFT ( Charges by RBI to be collected).
  • Speed Clearing with no charges ( Charges by Clearing House to be collected)
  • Free ECS debit and Credit
  • Instant credit of outstation cheques upto Rs50,000.
  • At Par collection of Government Cheques.
  • Free Non-cash Transactions under ABB
  • Free SMS facility.
  • Free Cheque books
  • Accident Insurance Coverage upto Rs2,00,000/
  • Minimum sweep out amount to be raised from Rs 1,000/ to Rs2,000/
  • Sweep in amount is fixed at Rs.5,000/-

Current Account Premium Gold

  • Threshold for transfer to Term Deposit from Current deposit raised from Rs1,00,000/ to Rs 2,00.000/
  • Average Quarterly Credit Balance increased to Rs.2,00,000/-
  • No Charges for Cheque Books
  • Maximum Limit for Cash Transactions-ABB (Receipts & Payments combined) - Rs.1 Lac
  • No Charges for Cash Transactions up to Rs.50,000/- Above Rs.50,000/- - Irrespective of location - Rs.0.75 per thousand or part thereof for full amount with a minimum of Rs.25/-
  • Non Cash Transactions - No Charges for transactions up to Rs.2,00,000/-
  • NEFT/RTGS 50% concession
  • Free SMS facility
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