The Customer agrees that in case of a joint account having mode of operation as anyone or survivor, anyone of the account holders, may create a Term/Fixed deposit/ recurring deposit by placing a request through branches, ATM, phone banking, Internet Banking or mobile banking channel's as made available by IDFC FIRST Bank from time to time.The Customer is required to specifically apply for deposit related products in accordance with specific terms and conditions as mentioned in the Deposit Application form applicable to the same from time to time and subject to directives laid down by the RBI from time to time and all other applicable laws.' Maturity Value' shall mean the amount payable to the Customer at the end of the term of the Term/Fixed Deposit subject to deduction of any tax as may be applicable.' Cumulative Term/Fixed Deposits' are Term/Fixed Deposits where interest is compounded quarterly and reinvested with principal amount.' Traditional Term/Fixed Deposits' are Term/Fixed Deposits where interest is paid at regular intervals, i.e., Quarterly or Monthly, as requested by the Customer/s at the time of creating the Term/Fixed Deposits.
