Document background
A Fixed Deposit Receipt is utilized when a customer (individual or corporate) places a time deposit with a bank in Hong Kong. The document serves as official evidence of the deposit placement and the agreed terms between the bank and the depositor. It contains crucial information such as the deposit amount, tenure, interest rate, maturity date, and renewal instructions. The receipt must comply with Hong Kong banking regulations, including the Banking Ordinance and Deposit Protection Scheme requirements. It's commonly used in both retail and corporate banking contexts and may be issued in physical or electronic form, subject to the Electronic Transactions Ordinance of Hong Kong. The document is essential for both the bank's records and the customer's proof of deposit.
