Examples of Bulk Deposit in a sentence
While Investing in Fixed Deposits, the benefit of Bulk Deposit rates shall be considered.
In order to access this function, the user has to right click on the a specified guarantee and select Bulk Deposit Modify.
In case of loan/overdraft facility of Rs.1 Crore and above against the Bulk Deposit, necessary due diligence shall be ensured by the branches and offsite monitoring should be done at the BS&IC Section, Circle Office (Loans of less than Rs.10 Crore sanctioned against a bulk term deposit) and OTM Cell, Inspection Wing, Head Office (Loans Rs.10 Crore & above).
As per RBI Master Direction on Interest Rates on Deposits, "Bulk Deposit" is defined as “Single Rupee term deposit of 2 Crore and above” w.e.f 12.03.2019 The rate of interest for Bulk Deposits is decided by the Asset Liability Committee of the Bank, who has been delegated with such powers by the Board of the Bank.
Bulk Deposits, a deposit containing a high volume of checks, may be processed as a Bulk Deposit meaning funds are deposited immediately based on the total provided and are verified by the close of that business day.