The interest shall be 0.50% or 1% below the rate applicable at the time of Deposits for the period Deposit has remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower. *Rates are subject to change, without prior notice. On pre-mature withdrawal of the deposit (after completion of 1 year), interest will be paid at applicable rate for the period the deposit has actually remained with the Bank or contracted rate less Premature Penalty of 1%, whichever is lower.
No interest is payable if the deposit is withdrawn before one year.Įffective 01st April 2017, Penalty for Premature Withdrawal for Retail Term Deposits will be applicable as under: NRE TERM DEPOSITS With effect from 15 th February, 2023
