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.
|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 Mar 01, 2023 at 01:03:05 PM )