What is “Profit First”?
This is a fixed deposit product which will enable the clients to take the interest of the
intended period at the beginning of the tenure. Highest tenure of the product will be 1 year. This will be a non-cheque account.
Customer can open the account for 03(three)/ 06(six)/ 12 (twelve) months
What is Special of this Account?
Allowed, but client (individual and non-individual) will have to maintain link CASA account.
Option of Auto Renewal?
Yes, you can auto renew
Who are eligible?
Any individual or Company either in single or in Joint name (proprietor/ partnership farm/
limited liability company) including the existing clients of the Bank.
It can be opened by all including minors.
Minimum deposit amount
Link account mandatory?
Client disagreed to open CASA account as he intends to park the profit into account of his
1st Blood or any other accounts?
Meaning of Munafa, Profit and Interest
All are same
Tax and Excise Duty?
Loan against Profit First?
Loan facility up to 70% of the deposit amount
Rate: Generic Savings rate for any unbroken period of 1 month.
Tax: Deducted tax is not refundable.
Death of account holder