To understand more about MaxiGain FD, kindly go through the below Frequently Asked Questions (FAQs)
- How does the MaxiGain FD work?
At the time of opening the MaxiGain FD, a FD Reloading Account (FRL) linked to your FD gets created. All your transactions – deposits or withdrawals are routed through the Reloading Account. Whenever the balance in FRL touches Rs. 10,000 or more, then it directly gets converted into an FD.
(Reloading Account is a non-interest bearing account that is created to manage your MaxiGain FD transactions in a convenient and simple way)
- Can I deposit an additional amount in my MaxiGain FD account?
Yes, you can deposit an additional amount in your FD Account through FD Reloading account (FRL). When the balance in FRL touches
Rs.10,000 or more, then all amount (in multiples of Rs.1000) gets
converted into an FD (maximum conversion per day will be for Rs.1 Cr.).
- What are the different ways through which I can deposit an
additional amount to my MaxiGain FD?
You can deposit an additional amount by:
• Depositing the amount in your FD Reloading Account
• Depositing a cheque (at any of our branch) in your FD Reloading A/C
• Internal account to account fund transfer
• NEFT/RTGS from any other bank
- Will I get a Debit Card with this MaxiGain FD?
Yes, you will get an International VISA Debit Card (with a one-time
issuance charge of Rs.150), which gives you free access to any
Dhanlaxmi Bank & partner bank ATMs. The transaction limits will be
Rs. 50,000 per day for all ATM transactions and Rs. 50,000 per day for
Point-Of-Sale (POS) purchases.
- What is the minimum amount required to open a MaxiGain FD?
The minimum amount required to open a MaxiGain FD A/C is
Rs. 50,000/-.
- What is the tenure of the MaxiGain FD?
For the first FD the tenure should be more than 180 days: for the
subsequent FDs booked from the FD Reloading Account the tenure
will be1 year by default. The minimum tenure for the FD to earn
interest is 7 days, in case if it is liquidated before maturity.
- How can I access / withdraw money from my Maxigain FD?
You can withdraw cash with your debit card from any of our ATMs or
partner bank ATMs in India or abroad. You can also transfer funds
online to any other bank account through our NetBanking facility.
- If I have multiple FDs, at the time of withdrawal which FD will be
liquidated first?
FD with lowest interest rate will be liquidated first, e.g. - if you've
booked three FDs - one on Jan 2, 2010 at 8%, the second on Jan 4,
2010 at 7% and the third on Feb 15, 2010 at 7.5% then at the time of
withdrawal the FD booked for lower interest (Jan 4, 2010) will be
liquidated first.
- Is auto renewal facility available in MaxiGain FD?
Yes, the FD will get renewed at maturity for the same tenure as
originally booked as per the rate of interest applicable on the date
of renewal.
- Will I get NetBanking and SMS alerts facilities?
You can apply for NetBanking and SMS alerts facilities at the
time of opening the FD. You will receive SMS alerts for every
transaction of Rs. 2,000/- and above.
- What are the transactions which I can do from NetBanking?
The transactions which you can do from the NetBanking are:
• View account details
• View account summary
• View account statement
• Fund transfers to any account via NEFT
• Third Party Funds transfer within the bank
- What will be the rate of interest / premature withdrawal penalty
applicable on the MaxiGain FD?
Rate of interest will be as per the card rate offered by the bank on
the day the FD is booked; penalty on premature withdrawals
will be as per our premature policy.
Please check with your nearest branch or log on to our website
www.dhanbank.com to know more.
- How will my rate of interest on the FD be calculated?
The interest calculation is done on a quarterly basis and it will be
credited to your FD Reloading Account.
- Will I get a Cheque Book when I open this account?
No cheque book will be provided with this account.
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