Deposit Page Break Notice For Free

Consequences. If the bank agrees to break your term deposit, it will probably reduce the interest rate on the funds you're withdrawing. It may also seek to recover interest that was paid at the higher rate while it had the money.

Term deposits can't be withdrawn early without penalty or losing all of the interest earned. Interest rates don't keep up with rising inflation. Interest rate risk exists if investors are locked in a low-rate term deposit while overall interest rates are rising.

Breaking Open of Locker: Break-open of locker may happen either at the request of the hirer/s or by the bank for default in payment of prescribed charges for or for any other reason. Break Open charges shall be recoverable from the hirer/s. Bank shall engage the suppliers of the locker unit to break open the lockers.

Withdrawal after 6 months: In case the investor chooses to do FD foreclosure after 6 months, the investor will be able to liquidate the FD, but the interest payable is 2%?3% lower than the interest rate applicable to public deposit.

The new FD rule is related to interest being paid on unclaimed or overdue FDs. As per the new rule, if a term deposit matures and proceeds are unpaid, the unclaimed amount will now earn a lesser interest rate.

In an FD account, the amount which is deposited is locked without any scope of withdrawal when needed. So if the investor does need the money on an immediate basis, he or she can opt for premature withdrawal or breaking of the fixed deposit.

The Domestic & NRO Rupee Term Deposits can be opened for minimum period of 7 days and maximum up to 10 Years. For NRE Term Deposits, minimum period is 1 Year and maximum up to 10 Years.