- The investment is fully repatriable.
- The tenor ranges from 1 to 10 years.
- The interest earned is non-taxable in India.
- Penal Interest on pre-closure of deposits.
- Up to Rs. 1 crore of deposit – Penalty of 1% from applicable ROI.
- Above Rs. 1 crore of deposit – Pre-closure penalty norms applicable.
- Interest will be calculated at the rate applicable for the period the deposit has actually remained with the bank. The rates are subject to change without notice.
|Time Bucket||Revised Rate (w.e.f. 07.01.2019)|
|1 Year to less than 2 Years||7.25%|
|2 Years to less than 3 Years||7.25%|
|3 Years and above||7%|
Note: The revised rates will be applicable for fresh deposits and renewals only.