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Treasury Bill Auction undertaken by RBI during QuarterĪverage of Weighted Avg. 12-05-2023įloating Rate Term Deposit ANCHOR Rate Details (%) 12-05-2023Ĭorresponding revised regular Bulk FD rateĪpplicable mark-up over and above the Daily MIBOR rate (Above Rs.5 crore)w.e.f. Auto renewal not allowed under this scheme.Īpplicable mark-up over and above the RBI Policy Repo rate w.e.f.Sweep-in / Sweep-out facility is not permitted under this scheme.“This is a Non-Callable deposit wherein Pre-mature/ partial withdrawal is not permitted” Branches are advice to affix stamp on physical Confirmation of Deposit (CoD) clearly indicating the following.Pre- Mature closure / partial withdrawal are not permitted.The interest rate structure is as under: Special Bucketsīulk Term Deposits Interest Rate (% p.a.) Īdditional Terms and Conditions for Non- Callable bulk deposit schem “Amrit Mahotsav FD” scheme of 444 Days - w.e.f. Such closures include the withdrawals through sweep-ins and partial withdrawals as well. Bank will levy a penalty of 1%, on the applicable rate for deposits closed prematurely.To illustrate as an example, if a deposit is placed for 5 years and after 1 year the depositor wants to close the deposit prematurely, then the interest rate applied will be the rate which was applicable for one year on the original date of deposit.

Interest payable on prematurely withdrawn deposits will be the rate applicable for the amount and the period for which the deposit remained with the Bank (rate applicable for that tenure on the original date of the deposit).

No interest is paid if the deposit is held for the tenure of below 7 days, the minimum period for Term Deposits as per RBI guidelines.

Citizen rates are not applicable to NRO & NRE Term Deposits. Tenure for NRE Term Deposit is 1 year to 10 years.Tenure for NRO Term Deposit is 07 days to 10 years.