|Special Rate for Senior Citizen
||0.50% over & above the rate applicable to general public.
|Penalty for Premature Closure
||A penalty of 1.00% will be levied for premature closure of Recurring Deposits that are opened on or after 04.02.2011. Such prematurely closed Recurring Deposits will earn interest at 1.00% below the interest rate as ruling on the date of deposit and as applicable for the period run.
|Penalty for Delayed Instalments
- @ of Rs. 1.50 for every Rs. 100/- instalment per month, in the case of RD accounts for five years and @ of Rs. 2/- for every Rs. 100/- instalment per month in the case of RD accounts for above five years should be collected.
- If there is delay in remittance of more than four instalments, the RD Account is to be repaid at Simple Interest on monthly product basis.(Not applicable for RD account opened w.e.f. 01.04.2020)