Back dating deposits aduld dating sites
the calculation of interest on such deposits will be in order of completed quarters and days and will be compounded on quarterly basis.
An additional rate of interest @ 0.50% on the Term Deposits (including Recurring Deposits and Term Deposits under other schemes) of senior citizens resident in India who has completed the age of 60 years is paid as per guidelines.
Term deposit accounts can be opened with instructions payable to 'Either or Survivor', payable jointly, payable to any one of the depositors etc. Photographs of the depositors except in case of existing accounts (having photographs) Available In sole name – if the minor is 10 years and above and can read and write.
It can also be opened with instructions payable to "Former or Survivor" or "Former, Survivors Jointly or Last Survivor" or "Latter or Survivor" in which case operational/ payment instructions at the time of opening the account or subsequent variations, if any, in these instructions, should be signed by all the joint depositors. In joint name with natural guardian if minors are less than 10 years of age.
One Crore and above ( for any period) will be allowed as per the discretion of Bank.
Monthly, quarterly or half yearly interest on completion of the month/quarter/half year calculated from the date of deposit or end of each calendar month / quarter / half year, whichever is later.
Interest payable under the Monthly Income Plan is the discounted value of interest payable in terms of IBA code for Banking practice. interest received under Monthly Income Plan will be less than simple interest.
Interest accrued on a time deposit, would ordinarily be paid, only on maturity.
However, at the request of the depositor, interest on deposits of -12- months and over, can be paid before maturity on the following basis.
The rate of interest applicable for premature payment without penalty will be the rate ruling on the date of accepting the deposit (i.e.