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# Applicable
only to Single deposit of Rs.1.00 crore and above.
Further, we advise as under: -
The benefit of additional interest rate of 0.50% (for deposits of 1 year and
above but < 3 years) – 1.00% (for deposits of 3 years and above) to senior
citizens will now be only 0.5% for all maturities.
ii. Extant instructions for premature
payment penalty on all time deposits inclusive of those of Senior Citizens, will
be as under: -
Premature
withdrawal of Term Deposits
No penalty on premature payment of term deposits of amount of below Rs.1.00 lac
irrespective of maturity period of deposits. However, the rate applicable for
the period which the deposit has actually run (prevailing on the date of opening
the account) only will be paid.
ii. A penalty of 1% on the rate
applicable for the period for which the deposit has actually run (prevailing on
the date of opening the account) in respect of premature payment of term
deposits of Rs.1.00 lac and above irrespective of the maturity period of the
deposit.
iii. No
interest is payable if the deposit is prematurely withdrawn within 14 days,
irrespective of the size of deposit.
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