Providing “e-OD” an Online Product to eTD Customers

In order to facilitate the customers, a New Online Product – “e-OD” facility (similar to that of OD against Deposits) to our e-TD customers has been introduced, which can be availed by the customers, at their convenience, without visiting the Branch.

Features of the Product:

• e-OD is available for Retail Net Banking Customers, who have e-TD accounts.
• The applicable Rate of Interest for this e-OD Product is 2% over the e-TD rate. For Staff (including Retirees), it is 0.50% over the deposit rate.
• Separate e-OD account is to be opened for each e-TD account.
• Customers can remit money to the e-OD account.
• The expiry date of e-OD will be the maturity date of the eTD Account.
• Currently, closing of e-OD account can be done only at the branch.

Process Flow:

• e-OD menu is enabled for Retail Net banking customers. It is available under “My Accounts” menu in New Internet Banking Website.
• On clicking “e-OD”, Terms and conditions for e-OD account Opening will be displayed.
• On confirming to “I Agree” option, e-OD account opening page will be displayed. A drop down list of e-TDA account numbers eligible for availing e-OD will be displayed.
• When an e-TDA account is selected, the limit eligible for e-OD amount will be displayed. After verifying the limit and entering the transaction password, OTP validation screen is displayed.
• On successful validation of OTP, e-OD account is opened and details of the account are displayed to the customer and amount is available for use from that account.