Premature withdrawal will not be allowed before completion of 3 months from the date of deposit.
In case of request for premature withdrawal after the expiry of 3 months, the rates given in the following table shall apply.
|Months completed from the date of deposit
||Rate of Interest Payable
|After 3 months but before 6 months
||The maximum interest payable shall be 4% per annum for individual depositor, and no interest in case of other category of depositors.
|After 6 months but before the date of maturity
||The interest payable shall be 1% lower than the interest rate applicable for the period for which the deposit has run or if no rate has been specified for that period, then 2% lower than the minimum rate at which the public deposits are accepted by HDFC. In respect of variable rate deposit, the interest rate applicable for the period for which deposit has run would be considered as applicable on the respective interest reset dates.
The commission is paid upfront for the entire period of deposit to our authorised agent. In case of premature withdrawal, the commission is payable for the period completed and excess commission paid will be recovered from the deposit amount.
In case of Corporate request for premature withdrawal may be permitted at the discretion of HDFC and should be submitted atleast 2 working days in advance.