Fixed Deposit Receipts (FDR)

A Fixed Deposit Receipt (FDR) is a document provided by the bank after the applicant procures a fixed deposit scheme from their bank.

This document contains details such as the individual's name, age, address, details of the scheme chosen by them such as deposit amount, tenure and interest rate applicable on the deposit and so on.

Some of the important Components details of a Fixed Deposit Receipt include:

  • Name of the applicant
  • Age of the applicant
  • Account Number of the applicant
  • Amount of principal that has been placed
  • Rate of Interest that is applicable
  • Date of Maturity
  • Amount of interest that the individual will receive on maturity
  • Instructions regarding maturity date such as account transfer or rollover amount

Electronic Funds Transfer (EFT)

An electronic funds transfer (EFT) is a transaction that takes place over a computerized network, either among accounts at the same bank or to different accounts at separate financial institutions.

EFTs include direct-debit transactions, wire transfers, direct deposits, ATM withdrawals and online bill pay services.

Transactions are processed through the Automated Clearing House (ACH) network, the secure transfer system of the Central bank that connects all Kenyan banks, credit unions and other financial institutions.

Punchlines offers customized printing and design services for the production of secure accountable EFTs application forms to banks. Our team of experts will work around the clock to ensure EFT's applications forms meet standards by ensuring all required components are incorporated and delivered within required timeline and security standards met.