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IND Non-Callable Deposit

IND Non-Callable Deposit

Bank has launched a new term deposit product “IND NON –CALLABLE DEPOSIT” which is a  term deposit product wherein premature withdrawal is not allowed during the tenure of the deposit.

The scheme is applicable for bulk deposits of above 5 Crores .

The salient features of the scheme are detailed here under:

DEPOSIT AMOUNT Minimum – Above ₹5.00 Crore

Maximum – No limit

TENOR OFFERED Minimum; – 7 Days

Maximum – 10 years

MODE OF INTEREST PAYMENT The interest may be paid on monthly/ quarterly basis. The monthly interest will be paid at discounted value.

For deposits held in maturity option, the maturity value of the deposit shall be calculated by system on quarterly compounding basis.

NOMINATION FACILITY Allowed
ROLL OVER OPTION Not Allowed 
PRECLOSURE FACILITY Not Allowed
LOAN AGAINST DEPOSIT The option of Demand Loan/ Overdraft facility shall be available as per discretion of the bank & the existing guidelines.
TDS Tax at source will be deducted as per the Income Tax regulations prevalent from time to time.
15G /15H Not Applicable

( Last modified on Sep 15, 2022 at 03:09:22 PM )

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