Account Opening Documents for Institutional Fixed Deposit Account

Institutional Fixed Deposit Account

• Certificate of Registration/Incorporation of the Institution and applicable renewal certificates.

• PAN / Income Tax Certificate / VAT Certificate and applicable renewal certificates, where applicable.

• Memorandum and Articles of Association / Constitution / Bylaws / Bidhan of the Institution, as applicable.

• Registration/approval/operating license issued by the concerned authority, where applicable.

• Details of the registered office and branches/offices, where applicable.

• Board/Executive Committee/Management Committee Resolution regarding placement of funds in Fixed Deposit and delegation of authority to operate the account.

• Recent passport-size photographs and copies of citizenship certificate/passport of Directors, Executive Committee members, Managing Director/CEO, authorized signatories and account operators, as applicable.

• Personal details and identification documents of beneficial owners/controllers, where applicable.

• Audited financial report and tax clearance certificate of the last fiscal year, where applicable.

• Documents evidencing the source of funds to be placed in the Fixed Deposit.

• Bank statement or other supporting documents evidencing the source of funds, where required.

• Specimen signatures of authorized signatories/account operators.

• Details of the account from which the Fixed Deposit amount will be transferred and to which interest/maturity proceeds are to be credited.

• In case of change of address from the initially registered address, copy of the relevant document.

• FATCA/CRS declaration and other applicable regulatory forms, where applicable.

• Any required approval/recommendation from the concerned regulatory authority.

• Any other documents if felt necessary and required by the Bank.

Institutional Categories

Company / Corporate Institution

• Certificate of Incorporation/Registration Certificate and renewal certificates.

• PAN/VAT/Income Tax Certificate and renewal certificates.

• Memorandum and Articles of Association.

• Board Resolution regarding placement of funds in Institutional Fixed Deposit.

• Details and identification documents of Directors, Managing Director/CEO and authorized signatories.

• Beneficial ownership details and identification documents, where applicable.

• Audited financial report and tax clearance certificate of the last fiscal year.

• Source of funds documents.

• Any other documents if felt necessary and required by the Bank.

Club / NGO / INGO / Organization

• Registration Certificate and applicable renewal certificate.

• PAN or documents issued by the Government for tax purposes.

• Bidhan/Constitution/Charter of the Organization.

• Agreement/approval from Social Welfare Council or concerned authority, where applicable.

• Resolution of the Executive Committee/Board regarding placement of funds in Institutional Fixed Deposit.

• Identification documents and recent photographs of authorized signatories, CEO/Country Director and account operators.

• Audited financial report and tax clearance certificate of the last fiscal year, where applicable.

• Documents evidencing source of funds.

• Any other documents if felt necessary and required by the Bank.

Co-Operative Institution

• Certificate of Registration/Incorporation and operating/renewal certificates.

• Approval/license for operation from the concerned authority.

• Bylaws of the Co-operative.

• PAN/Tax registration certificate.

• Resolution regarding placement of funds in Fixed Deposit and delegation of authority.

• Identification documents and recent photographs of Managing Director/CEO and authorized signatories.

• Audited financial report and tax clearance certificate of the last fiscal year.

• Documents evidencing source of funds.

• Any other documents if felt necessary and required by the Bank.

School / College / Educational Institution

• Registration Certificate and applicable renewal certificate.

• PAN or applicable tax registration documents.

• Memorandum and Articles of Association/Constitution, where applicable.

• Approval/affiliation certificate from the concerned authority.

• Board/Management Committee Resolution regarding placement of funds in Institutional Fixed Deposit.

• Identification documents and recent photographs of Board Members, Principal/CEO and authorized account operators.

• Audited financial report and tax clearance certificate of the last fiscal year, where applicable.

• Documents evidencing source of funds.

• Any other documents if felt necessary and required by the Bank.

Trust / Guthi / Religious Institution

• Certificate of Registration/Establishment.

• PAN or applicable tax registration documents.

• Trust Deed/Guthi establishment documents.

• Bidhan/Constitution of the Trust/Guthi.

• Resolution of the Management Committee/Board regarding placement of funds in Fixed Deposit.

• Identification documents and recent photographs of Trustees, Managing Director/CEO and authorized account operators.

• Audited financial report and tax clearance certificate of the last fiscal year, where applicable.

• Documents evidencing source of funds.

• Any other documents if felt necessary and required by the Bank.

General Requirements for Institutional FD

• Duly completed and signed Institutional Fixed Deposit Application Form.

• Valid KYC documents of the Institution and authorized persons.

• Specimen signatures of authorized signatories.

• Board/Committee Resolution authorizing placement of funds in Fixed Deposit.

• Clear instruction regarding Fixed Deposit tenure, interest payment and maturity proceeds.

• Source of funds/source of income documents, where applicable.

• Beneficial ownership details and identification documents, where applicable.

• Details of the linked Current/Savings Account for transfer of principal and interest proceeds.

• FATCA/CRS declaration, where applicable.

• Any other documents/information as may be deemed necessary and required by the Bank in accordance with applicable laws, regulations, NRB directives and internal policies.