Time Deposit Accounts – Frequently Asked Questions
How will I receive the interest amount?
The interest will be credited to your affiliate Savings Account monthly. You also have the option to get the entire interest at the end of the term.
For advance interest Time Deposit:
This is applicable for Long Term Deposits. Advance interest for one year will be paid in advance and every year thereafter.
Will I have to pay penalty if I pre-terminate?
Yes. For short term (30,60, 90 days) and up to 3 years, the documentary stamped will be charged to you.
For 5 year TD:
Pre-termination penalty on total interest will be paid based on the table below:
