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Cash Deposit Agreement

Cash Deposit Agreement Template for India

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Key Requirements PROMPT example:

Cash Deposit Agreement

"I need a Cash Deposit Agreement for a 5-year fixed deposit of INR 50 crores to be made by our manufacturing company with State Bank of India, starting from January 15, 2025, with quarterly interest payments and limited withdrawal rights."

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Document background
This Cash Deposit Agreement is designed for use in India when a depositor (individual or corporate) intends to place funds with a banking or financial institution. The agreement is essential for establishing the legal framework governing the deposit relationship, ensuring compliance with Indian banking regulations and RBI guidelines. It should be used whenever a significant deposit arrangement is being established, particularly for fixed deposits, bulk deposits, or special rate deposits. The document includes comprehensive details about interest calculations, deposit tenure, withdrawal rights, and bank's security interests, while ensuring compliance with anti-money laundering regulations and KYC requirements. This agreement is particularly important for corporate treasury operations, high-value individual deposits, and institutional banking relationships in the Indian context.
Suggested Sections

1. Parties: Identification of the depositor and the bank/financial institution, including their registered addresses and registration details

2. Background: Context of the agreement and the intention of the parties to enter into a cash deposit arrangement

3. Definitions: Definitions of key terms used throughout the agreement

4. Deposit Amount: Details of the initial deposit amount and any subsequent deposits permitted

5. Term of Deposit: Duration of the deposit and renewal terms

6. Interest: Interest rate, calculation method, and payment frequency

7. Withdrawal Rights: Terms and conditions for withdrawing the deposit, including notice periods and penalties

8. Bank's Rights and Obligations: Responsibilities of the bank in maintaining and protecting the deposit

9. Depositor's Representations and Warranties: Confirmations and guarantees provided by the depositor regarding the source of funds and authority

10. Security and Lien: Bank's rights over the deposit in case of any outstanding obligations

11. Notices: Communication methods and addresses for notices between parties

12. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes

13. Termination: Conditions and process for early termination of the agreement

Optional Sections

1. Electronic Banking Services: Terms for online access and management of the deposit, used when digital banking services are provided

2. Tax Provisions: Specific tax-related terms and TDS arrangements, included when tax implications need to be explicitly addressed

3. Joint Deposit Holders: Additional terms for multiple deposit holders, used when the deposit is held jointly

4. Nomination: Terms regarding nomination facilities, included when nomination facility is offered

5. Force Majeure: Provisions for extraordinary events, included in longer-term deposit agreements

6. Assignment: Terms regarding transferability of the deposit, included when assignment rights are relevant

7. Insurance Coverage: Details of deposit insurance coverage, included when specific insurance terms need to be highlighted

Suggested Schedules

1. Schedule 1 - Deposit Details: Specific details of the deposit amount, term, interest rate, and payment schedule

2. Schedule 2 - Fee Schedule: List of applicable fees and charges

3. Schedule 3 - KYC Documents: List of required KYC documents submitted by the depositor

4. Schedule 4 - Authorized Signatories: Details of authorized persons who can operate the deposit account

5. Appendix A - Interest Calculation Method: Detailed explanation of interest calculation formula and examples

6. Appendix B - Electronic Banking Terms: Detailed terms and conditions for electronic banking services if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


































Clauses






























Relevant Industries

Banking

Financial Services

Corporate

Retail Banking

Small and Medium Enterprises

Manufacturing

Trading

Real Estate

Technology

Professional Services

Relevant Teams

Treasury

Finance

Legal

Compliance

Operations

Risk Management

Corporate Banking

Retail Banking

Wealth Management

Account Services

Customer Relations

Documentation

Relevant Roles

Treasury Manager

Finance Director

Chief Financial Officer

Banking Relationship Manager

Compliance Officer

Legal Counsel

Company Secretary

Financial Controller

Account Manager

Risk Manager

Branch Manager

Operations Manager

Corporate Banking Officer

Wealth Manager

Financial Advisor

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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