1

Eligibility

✓  Resident Individuals and Non- Individual Customers

✓  (Minors of 18 years and below and NRI customers are not eligible)

2

Minimum Deposit Amount

✓  Rs 1,00,01,000/-

3

Maximum Deposit Amount

✓  Less than Rs. 3 Crore

4

Tenure/ Scheme

✓  91 days to < 2 Years except the 444 days bucket under RDP and SDR scheme

5

Rate of Interest

✓  10 bps higher than the interest rates offered in normal Retail Term Deposit.

✓  Rate of interest will change from time to time as per ALCO directions

6

Additional interest rate for special categories of customers

✓  Senior Citizens/ Staff/ Staff Senior Citizens are eligible for additional Interest Rate over applicable non-callable deposit Rate for public

7

Premature Payment of Non-Callable Deposits

✓  Premature withdrawal of the deposits made under the scheme is not allowed for any reason except in case of

(i) Government Orders

(ii) Regulatory Orders

(iii) Bankruptcy

(iv) Legal Orders

(v) Deceased Settlement Claim

✓  Further Premature closure of deposits in above five circumstances shall be allowed under the Discretion of Planning Department at Central office

✓  For premature withdrawal in the above five circumstances, interest to be paid shall be as per the card rate for normal deposit (callable) for the period for which deposit has run

✓  Premature penalty will be similar as applicable on Normal deposit for above circumstances except Deceased Settlement Claim.

✓  To avoid any disputes in future, the main feature of Non-Callable RTD "No premature withdrawal allowed under any reason", must be brought to the notice of customers.

8

Auto Renewal facility

✓  In the absence of clear renewal instructions by the customers, the proceeds of such deposits will be credited to depositor's operative account on maturity.

9

Nomination facility

✓  Available

10

TDS

✓  TDS is applicable as per Income Tax Rules

11

Availability of Loan/Overdraft facility

✓  Demand loan/over-draft facility is not available against the security of Non-Callable deposits as per the bank's guidelines.  

✓  Not to be used as security/margin money (LC/BG) and any other credit facility or purpose.

12

Others terms and conditions

✓  Conversion from existing callable to Non-Callable and vice - versa not allowed.

✓  All other norms and instructions applicable to 'Normal Term Deposits' will apply to these deposits.