Terms & Conditions for Fixed Deposits

The Fixed Deposit is governed by the existing policies of SBM Bank and may be revised from time to

time. The Fixed Deposit will be opened as a regular FD with mode of operation (MOP) as "Self" and

with compounding interest facility only.

i) You will have the choice of making a nominee. However, when the Nominee is a minor, you

will specify the name of the guardian and shall submit a physical copy of the nomination form to the

Bank. In case you fail to do so, information provided online shall be treated as final information

related to the Nominee.

ii) You confirm that if You die and there is no nomination in force at the time of death, the SBM

Bank shall pay the sum due to the deceased, to your legal heirs.

iii) You hereby authorize the Bank to act upon your instruction regarding nomination,

cancellation or variation of the nomination for the Fixed Deposit. You shall not hold the bank

responsible should there be any claim raised against the Bank for acting on the instruction of

nomination and shall ensure that the Bank does not suffer any loss for which you will keep the Bank

indemnified from time to time.

iv) You have opted to receive e-statements.

v) You agree that the Bank will be sending you an e-advice on the registered email ID for Term

deposit instead of a physical deposit receipt.

vi) In case of loss of Fixed Deposit Advice, You shall satisfy SBM Bank and indemnify it for any

cause or consequence arising out of issuance of a duplicate advice.

vii) You also agree that upon maturity, the maturity amount will be automatically renewed in

accordance with the original tenor of the deposit and will continue to renew indefinitely as long as

the linked credit card remains active.

ix) In the event that you have created multiple FDs and wish to withdraw, all the FDs will be

withdrawn together. Your card will be permanently blocked, and you won't be able to generate a

new card at the moment.

x) In case You surrender the credit card after full settlement of card dues, to the satisfaction of

SBM Bank, you can request the SBM Bank to close the deposit and pay me/us the proceeds by way

of a credit to SBM or any other bank's savings account in your name. You hereby declare that the

details furnished above are true and correct to the best of your knowledge and belief and you

undertake to inform the Bank and Kredit Pe of any changes therein, immediately. In case any of the

above information is found to be false or untrue or misleading or misrepresenting, You are aware

that you may be held liable for it, and you agree to indemnify, defend and hold harmless the SBM

Bank for, of and against any and all losses, damages, cost etc. incurred and/or suffered by SBM Bank

and/or any of its representatives, arising out of and/or caused by any misrepresentation and/or

breach of these terms.