Maturity options

Standard Term Deposit

Renew deposit with principal amount and accrued interest
Upon maturity both principal amount and accrued interest will be deposited as a new term deposit with interest rate and terms applicable as at the date of renewal.

Renew deposit principal amount only
Upon maturity deposit principal amount will be renewed with interest rate and terms applicable as at the date of renewal, interest amount will not be renewed.

Transfer deposit principal and interest amount to another account
Upon maturity transfer both deposit principal amount and accrued interest amount to another account.

Note: In case of any premature withdrawal of term deposit at the request of customer, 1% of accrued interest will be paid.

Term Deposit account closure fee is not applicable.

Term Deposit With Interim Interest Repayment

Renew deposit principal amount only
Upon maturity deposit principal amount will be renewed with interest rate and terms applicable as at the date of renewal, interest amount will not be renewed.

Transfer deposit principal and interest amount to another account
Upon maturity transfer both deposit principal amount and accrued interest amount to another account.

Note: In case if customer makes premature withdrawal of term deposit after minimum one month, then the interest amount paid to customer will be calculated with applicable interest rate for the given deposit type as at the date of withdrawal. The difference between the interest amount already paid to customer during the deposit term and interest accrued during 1 month will be deducted from deposit principal amount.

In case of any premature withdrawal of term deposit at the request of customer within 1 month after opening the deposit, 1% of accrued interest to date will be paid. 

Term Deposit account closure fee is not applicable.

Last updated on: 23/8/2019 06:56:07