"For premature closure/part withdrawal/premature extension of domestic term deposits of less than Rs.10 crore, the Bank imposes a penalty of 1.00%. Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at 1.00% below the rate as applicable for the amount slab (Deposit size of less than Rs.1 crore/Rs.1 crore to less than Rs.10 crore) as ruling on the date of deposit and as applicable for the period run OR 1.00% below the rate at which the deposit has been accepted, whichever is lower."
Individual, Joint (not
more than 4), a Guardian on behalf of a minor, HUF, Partnership, a Company,
Association or any other Institution
Minimum - Rs.1000
Maximum - No ceiling
PERIOD OF DEPOSIT
Minimum 15 days (7-14 days – Only for single deposit of Rs.5 lakhs and above)
Maximum 120 months
Depending upon the period of the deposit as prevailing
from time to time.
PERIODICITY OF INTEREST PAYMENT
Monthly (at discounted rates), Quarterly, Half-yearly or Annual intervals as per
SPECIAL RATE FOR SENIOR CITIZEN
Additional 0.50% rate of interest uniformly across all maturities, irrespective of the size of the deposit over & above the rate offered for General Public.
TDS ON INTEREST
Available upto 90% of the deposit amount
PENALTY FOR PREMATURE CLOSURE/ PART WITHDRAWAL / PREMATURE EXTENSION OF DEPOSIT:
A penalty of 1.00% will be levied for premature closure/part withdrawal/premature extension of Domestic /NRO term deposits of less than Rs.1 Crore that are placed/renewed on or after 04.02.2011. No penalty will be levied for premature closure/part withdrawal/premature extension of Domestic /NRO term deposits of Rs.1 Crore & above that are placed/renewed on or after 13.10.2012.
Facility of part withdrawal of deposits in units
of Rs.1000/- keeping the rest of the deposit to earn contracted rate of
APPLICATION & DOCUMENTS
Form 60 or 61 (if customer does not have PAN Card)
Photograph of depositor/s (2 copies)
Proof of address as per KYC Norms
Any other related documents as applicable to proprietor ship concern, Partnership
Firm, Company, HUF etc