| FAQs |
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 Retail » Deposits |
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RD PLUS
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| How the interest is calculated? |
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Interest is payable every quarter on monthly product basis on the minimum balance between 10th and last day of the month. Senior Citizens are eligible for additional rate of interest @0.50%.
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| What is the penalty for delayed payment of instlament and what the penalty for pre-closure of the account? |
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No penalty for delayed payment of instalment. For pre-closure of the account, 0.50% on the outstanding balance subject to a minimum of Rs.50/- and maximum of Rs.500/-.
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| Whether TDS is applicable for the deposit? |
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The interest accrued is not subjected to any TDS.
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| What is the rate of interest payable on the deposit? |
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The deposit amount carries rate of interest as in the case other term deposits, as per the period of deposit. |
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| Whether loan can be availed against the deposit? |
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Deposit Loan or Overdraft may be allowed during the period of the deposit upto 90% of the balance in the account subject to minimum of Rs.5000/-. |
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| Whether nomination facility is available on the deposit? |
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Yes. Nomination facility is available as per extant guidelines. |
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