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Double Benefit Term Deposit

Minimum amount of Deposit

  • Minimum amount that may be accepted for the scheme shall be Rs.10,000/-in Metro and Urban Branches and Rs.5000/- at Rural and Semi urban Branches For senior citezens the min amount is Rs5000/-
  • Minimum Amount criteria will not be applicable to Subsidy kept under GOVT Sponsored Schemes, Margin Money, earnest money and court attached/ordered deposits Payment of Interest
  • Interest will be paid at the time of maturity along with principal with quarterly compounding.(The payment/credit of interest in the account will be subject to TDS as applicable)PAN number is essential for those accounts where TDS is deducted.
  • Payment and Renewal of Deposits Before Maturity
  • Illiterate Persons
  • Depositors may request repayment of their deposits before maturity. Repayment of term deposits before maturity is permissible in terms of the directives of the Reserve Bank of India issued from time to time. In terms of the directives, the provision regarding premature withdrawal of deposits is as follows
  • Request for premature withdrawal For penalty on premature withdrawal of deposits, please visit “Penalty Details” on http://www.bankofindia.co.in/english/Penaltydetails.aspx
 

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