Minimum lock-in period for all types of deposit shall be 3 months.
The interest rates for prepayment of deposits are as under:
|3 - 6
||4 % p.a. and “No Interest” in case of other category of depositors
|6 - 12
||2 % less than the Interest rate Applicable
|12 till maturity
||1 % less than the Interest rate Applicable
In the event of the death of the depositor, premature termination of fixed deposits would be allowed; Such premature withdrawal would not attract any penal charge. For other deposits, premature withdrawal is permitted within three months to meet certain expenses of an emergent nature, subject to regulatory conditions.