Interest rates are subject to periodic changes. The applicable interest rates will be offered based on the date and time of receipt of the funds by the Bank. The depositor shall ascertain the rates on the booking date of FCNR (B) Fixed Deposit.
Premature Withdrawal of FCNR(B) Deposits:
A 1% penalty will apply in case of premature withdrawal of FCNR(B) deposits.
No interest will be payable if the deposit is withdrawn within one year from the date of booking.
FCNR(B) deposits with half-yearly interest payout will have a lock-in period of 12 months, during which premature withdrawal will not be permitted.
For half-yearly interest payout deposits, complete payout instructions, and CASA account details, where applicable, must be provided at the time of deposit booking.
Where outward remittance is selected, the duly completed Outward Remittance Form and required details/documents must be submitted at booking. Incomplete requests may be rejected.
The customer should promptly communicate any change in payout or maturity instructions to the Bank. Such changes shall apply only upon acceptance by the Bank.
The customer shall ensure that all instructions and account details remain accurate and valid. The Bank shall not be liable for delays or losses arising from incorrect, incomplete or delayed instructions.
