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NEW: Get seamless access to WSJ. Welcome to the premium services of Business Standard brought to you courtesy FIS. No interest will be payable for NRE TDs staying less than 1 year. For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest. Premature withdrawal of this deposit is not allowed till maturity. Auto Renew option is not available. Monthly Interest Payout option is not available.
Renewed on or after 1st April 2015. In addition to the above, no interest will be paid on the principal amount withdrawn from NRE fixed deposits before completion of one year. Note: 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. Bank from time to time, will be charged for the month of delay.
Fraction of a month will be treated as full month for the purpose of calculating such interest. The total penal interest chargeable shall be recovered from the total amount of interest payable by the bank and shall be recovered only at the time of maturity or premature closure of the account as the case may be. In case of premature closure of this deposit within a month, no interest shall be paid and only principal amount will be returned. The interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit remained with the bank or at the contracted rate, whichever is lower post deducting penal charge of 0. Interest rate subject to change without prior notice.