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Ny will not entertain any request for change once the scheme is selected. Where the scheme choice is not indicated in the Application Form the deposit will be treated as placed in Cumulative Scheme - 12 months. Senior Citizens (60 years and above), and employee of the company will be entitled to an additional rate of interest of 0.25% per annum on the respective Deposits. ii. Interest on Fixed Deposits will commence from the date of realisation of cheque / demand draft by the Company. iii. Any c.

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Disadvantages of term deposits If you need your money before the term ends, you may have to pay a penalty fee. You may only receive a proportion of the interest earnt, or none at all. Scammers are offering investments advertised to be 'like a term deposit' that claims to be a 'new breed of investment'.

A term deposit lets you lock away a lump sum of money for a set length of time (the 'term'). During this term you won't have access to your money. However, in return you'll get a guaranteed rate of interest. That means you'll know from the outset exactly what the return on your money will be.

(i) No deposit shall be withdrawn before the expiry of 1 year from the date of deposit. (ii) If account is closed after 1 year and before 3 year from the date of account opening, a deduction equal to 2% from the principal will be deducted and remaining amount will be paid.

If all your funds are locked away in a Term Deposit, and you need to access cash before the term ends, you will likely not receive the full benefit of the interest earned, and could incur additional costs or having to pay back previously accumulated interest to the financial institution.

Key FD rules and regulations Tax on FD interest. ... Exemption under section 80C. ... Early withdrawal penalties. ... Insurance cover for bank FDs. ... Loan against FD. ... TDS on Fixed Deposits. ... Payment terms. ... Also Read: Benefits of opening an FD without a Savings or Current Account.

What is a term deposit? With a term deposit, you lock away an amount of money for an agreed length of time (the 'term') – that means you can't access the money until the term is up. In return, you'll get a guaranteed rate of interest for the term you select, so you'll know exactly what the return on your money will be.

Banks don't have to break your term deposit but are usually willing to accommodate requests.

Fixed Term Deposit Account. Lock away your money for an agreed amount of time of up to two years and you'll get a fixed interest rate.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232