Fixed/Short Term Deposit

Fixed/Short Term Deposit

Minimum Amount criteria will not be applicable to Subsidy kept under GOVT Sponsored Schemes, Margin Money, earnest money and court attached/ordered deposits

Payment of Interest: (Subject to applicable TDS)

Interest will be paid half yearly on 1st October and on 1st April and in case these dates falls on holidays then on the next working day

Payment and Renewal of Deposits Before Maturity

Depositors may request repayment of their deposits before maturity. Repayment of term deposits before maturity is permissible in terms of the directives of the Reserve Bank of India issued from time to time. In terms of the directives, the provision regarding premature withdrawal of deposits is as follows :

Request for premature withdrawal

For penalty on premature withdrawal of deposits, please visit "Penalty Details" on http://www.bankofindia.co.in/Penaltydetails