How To Write Application Letter For Fixed Deposit Placement?


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Thinking of ways to save money can be done in many different ways. You can invest in a small scale business or stocks. You can also open a saving account in a nearby bank. However, one of the most convenient ways to do it is by opening a fixed deposit. It is a kind of fund placement wherein the term is determined. It can be for a period of 3 months or even a year depending on your own preference. However, what makes it unique is how you can place funds in your account based on the prevailing rate.

An application letter addressed to the bank manager is no longer necessary. Instead, just follow these steps:

• All you have to do is go to your bank and inquire about the possibility of opening a fixed deposit placement. Normally, banks have assigned tellers who handle new accounts and presumably, he is the right person to go to.
• Thereafter, you will be asked to produce certain documents that are needed for your own personal files which they bank will keep for documentation purposes. In fact, it is best that you give the bank a call beforehand and signify your intention about opening such kind of account. That way, you will be able to prepare the requirements needed such as personal identifications or birth certificates if any.

More often than not, a letter will no longer be required. However, in the event that you will be asked for one, you can ask the bank's teller for a sample. Sometimes, banks already have a pro-forma letter prepared for potential depositors. All you need to do is fill up all the important details. Most of all, never hesitate to ask assistance from the bank's teller. After all, he is there to assist you in all your needs.

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