| |
|
|
| |
|
The Domestic and NRO term deposits will be renewed automatically from the date of maturity as per the original tenor and at the interest rate prevailing on the date of maturity for the period already specified in the original deposit.
|
E. Rules for Renewal / Encashment of overdue Domestic and NRO Term Deposits
|
a) Where the overdue period does not exceed 14 days:
|
|
If request for renewal is received after the date of maturity, such overdue Domestic/NRO term deposits shall be renewed with effect from the date of maturity for a minimum period of 7 days or more as specified by the depositor BUT beyond the date of presentation and interest shall be at the rate prevailing on the date of maturity applicable for the period for which the deposit is renewed.
|
b) Where the overdue period exceeds 14 days:
|
|
If request for renewal is received after the date of maturity, such overdue Domestic/NRO term deposits shall be renewed with effect from the date of maturity for a minimum period of 7 days or more as specified by the depositor beyond the date of presentation and interest shall be at the rate prevailing on the date of maturity.
|
c) Where the deposit is not renewed but encashed after the date of maturity:
|
|
If request for renewal is received after the date of maturity, such overdue Domestic/NRO term deposits shall be renewed with effect from the date of maturity for a minimum period of 7 days or more as specified by the depositor beyond the date of presentation and interest shall be at the rate prevailing on the date of maturity..
|
|
The differential interest rates for Senior Citizens shall be applicable for 365 days and above tenors only.
|
|
For deposits of Rs 1 Crore and above, contact the Branch for special rates.
|
| |
| |
|
|
|
Interest rates are subject to change from time to time. |
|
Applicable interest rates as on the date of receipt of the funds will be applicable.
|
|
To ensure you are seeing the latest updated page, we request you to clear your browser cache.
|
|
Interest on your Fixed Deposit will accrue every calendar quarter end and at the time of closing the Fixed deposit. |
|
You can maximize your interest by opting AKSHAYA DEPOSIT: a reinvestment deposit where your interest is compounded quarterly. Term Deposit of 6 months and above can be opted under Akshaya Deposit. |
Opt VYSUNIT deposit scheme to pre close only the portion of TD that you may need.
Important information on TDS:
1. Tax at source is deducted as per the Income-Tax regulations prevalent from time to time.
2. Interest on Cumulative Deposit is exempt from the purview of TDS.
3. If you are eligible and wish to avail TDS exemption, submit Form 15 G / H duly mentioning thereon your PAN details, without which it would be invalid.
4. TDS at applicable rate OR 20% whichever is higher is deducted where PAN is not registered with Bank.
5. TDS will be deducted on the interest paid or accrued or likely to accrue during a financial year.
6. Interest earned on term deposits with all our Branches in India is aggregated to arrive at TDS eligibility.
7. PAN is a pre-requisite for opening term deposits of =>Rs.50,000 in aggregate.
8. Prevailing TDS rate for Individuals / Firms / Domestic Company is 10%, where Interest paid or accrued or likely to be paid for the year exceed Rs 10,000."
|
|
| |
|
|