OBC left Menu
Quick Info
Visitor No.:   53451425

Print Font :- Small Text Standard Text Large Text
Home >> Deposit Schemes >> Flexi Fixed Deposit Scheme
Flexi Fixed Deposit Scheme





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:


  • a) 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.
  • b) 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).
  • c) 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.
  • d) Flexi Fixed Deposit accounts shall be opened either singly or jointly.
  • e) 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 as per below chart



                       Proposed Flexi Period


        Non Individuals


Current Account Premium Gold


45 days to 1 year

Default period 45 days

46 days to 90 days

Default period 46 days

91 days to 179 days

Default period 91 days


Saving Smart Save (SB-211)

91 days to 59 Months

Default period 91 days

91 days to 179 days

Default period 91 days



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, premature payment penalty has been levied on amount more than 15 lacs for individual (1%) and for non-individual, irrespective of amount on or after 10.07.2015.  

6.         AUTO SWEEP (SWEEP - IN):


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.


10.       SB Smart Save modified as follows:

  • 1. Average quarterly balance to be increased to Rs25,000/
  • 2. RTGS/NEFT to be allowed at 50% concession.
  • 3. Speed Clearing with no charges ( Charges by Clearing House to be collected)
  • 4. Free ECS debit and Credit
  • 5. Instant credit of outstation cheques upto Rs25,000.
  • 6. At Par collection of Government Cheques.
  • 7. Free SMS facility
  • 8. Free cheque books (100 leaves p.a.)
  • 9. Minimum sweep out amount to be raised from Rs 1,000/ to Rs2,000/
  • 10. Sweep in amount is fixed at Rs.5,000/-

Current Account Premium Gold

  • 1. Threshold for transfer to Term Deposit from Current deposit is Rs 2,00.000/
  • 2. Average Quarterly Credit Balance increased to Rs.2,00,000/-
  • 3. No Charges for Personalized Cheque Books
  • 4. NEFT/RTGS 50% concession
  • 5. Free SMS facility



Annexure I




Operative accounts with CBS codes

Requirement of initial deposit / minimum average quarterly balance

Penalty for not keeping minimum average quarterly balance (per quarter)

Auto Sweep unit (sweep in)

Reverse Sweep unit (sweep out)

Period of FFD


SB Smart Save -

Code SB 211

Rs. 25000/- ##

Rs. 400/- pq

Rs. 5000/- ##

Rs. 2000/-


91 days to 59 Months

Non-Indiv 91 days to 179 days



Current Account Premium Gold Scheme Code CA 109

Rs. 200000/-

Rs. 2000/- pq

Rs. 25000/-

Rs. 10000/-


45 days to 1 year


a) 46 days to 90 days

b) 91 days to 179 days





## Auto Sweep shall take place only after the cut off level of Rs. 25000/- in linked Saving Smart Save Account i.e. having a balance of Rs. 25000/- or above the system will allow Auto Sweep in multiple of Rs. 5000/-. However, penalty for not keeping minimum balance will be applicable only if the Minimum Average Quarterly Balance falls below Rs. 25000/-.


$ Plus Service Tax as applicable

The modifications/ additional concessions/ features in the flexi deposit scheme (SB Smart Save – Code SB 211 and Current Account Premium Gold Scheme - code CA 109 ) will be effective from 07.12.2015 for all new/ fresh accounts to be opened. In case of existing accounts all changes will be effective from 07.01.2016 respectively after a notice period of 1 month.