Non-callable term deposits are deposits where PREMATURE WITHDRAWAL IS NOT PERMITTED. It must have a minimum deposit amount of above ₹1 crore.
These deposits offer higher interest rates compared to traditional FDs due to the restriction on premature withdrawals.
Terms and Conditions for Non-Callable Deposit:
NON – CALLABLE TERM DEPOSIT
- Eligibility: Resident / Non resident Individuals and Non- Individual Customers
- Deposit Amount: Above Rs.1.00 Crore
- Interest Pay out Option
- Monthly/ Quarterly / Half yearly/Yearly Interest Pay-out is available
- Premature Withdrawal: Strictly not allowed. Exceptional cases such as Bankruptcy, Winding up under Directions by Court /Regulators/Liquidator, death of depositor are considered.
- TDS Application: As per IT act
- Available through Channel: The product shall be available through Branch channel only.
