Period run |
Deposits of less
than Rs.15 lakhs |
Deposits
of Rs.15 lakhs to Rs. 5 Crore |
Deposits of above
Rs.5 Crore |
7 days to 14
days |
No interest will
be paid on foreclosure of deposit |
No interest will
be paid on foreclosure of deposit |
No interest will
be paid on foreclosure of deposit |
15 days and above |
Eligible rate will be
the applicable card rate for the actual
period run prevailing on the date of
deposit less 0.75% p.a as foreclosure charges* |
Eligible
rate will be the applicable card rate for
the actual period run prevailing on the date
of deposit less 1% p.a as foreclosure charges
* |
Eligible
rate of interest will be the applicable rate
of interest prevailing at the time of deposit
for above Rs.5 crore or Rs.15 lakhs to Rs.
1 crore, which ever is less minus 1% as foreclosure
charges* |
* No foreclosure charges is to be levied for domestic
term deposits placed by Corporate/Government Departments
(State, Central and Quasi Government), Institutions
and non profitable organizations (which exist for
Educational / Religious or Charitable reasons and
from which its share holders or trustees do not
benefit financially) wherein the deposits are placed
based on the quotation submitted by the Bank.
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