Call Deposit Receipt (CDR) is a non-negotiable instrument issued on behalf of customers for guaranteed payments to beneficiary such as Government/Semi-Government/Private Organization & Individuals.
It is a form of non-profitable guarantee certificate issued to Government & Semi-Government Institutions, Corporations and Semi-Autonomous Bodies as a security deposit in favor of any tender.
The beneficiary can at any time deposit and or redeems the CDR in their account for legal tender from the issuers account. Summit Bank facilitates all customers to avail this service without having an account with the bank.
Call Deposit receipt is a commitment of payment upon presentation of CDR instrument. Features are given below:
*Terms & Conditions Apply