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CERTIFICATE OF DEPOSIT

 
1. CD can be issued by scheduled commercial Bank (excluding RRBs & LAB) & select all India financial institution

2. Bank is free to issue any amount depending on the requirement

3. Minimum 1 lakh & multiple of 1 lakh

4. Can be purchased by Individuals, corporate, trusts, associations /NRI on non repatriation basis (NRI cannot endorse it in secondary market)

5. Banks can issue for minimum 7 days & not more than 1 year

6. It can be fixed rate & floating rate

7. It attracts SLR/CRR

8. No loan can be given against CD. Bank cannot by back CD before maturity

9. If maturity date is holiday it will be payable immediate preceding working day

10. Duplicate can be issued subject to condition in physical form

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