The Term Deposit Advices are
not transferable, non-negotiable and not assignable.
The depositor is requested to
always quote the reference/contract number for all the
related correspondence.
Interest on deposit ceases on
the maturity date.
Premature payment may be permitted
by the Bank on terms and conditions including penalties,
in force and as per the guidelines of Reserve Bank of
India.
Renewal / Payment instructions
must be given in writing. Original Letter must reach BBK,
Mumbai / Hyderabad office on or prior to the date of maturity.
Instructions through fax, e-mail will be acted upon, only
if the customer has executed an indemnity in the Bank’s
format.
Deposits will be renewed at maturity
for a similar term at the ruling rate of interest if no
renewal / payment instructions are received prior to maturity
date.
Deposit rates are subject to
directives of the Reserve Bank of India issued from time
to time.
It is the depositor’s responsibility
to advise the Bank of change in non-resident status.
FDR Deposits of INR 15 lakhs
and above, the interest rates will be quoted by treasury
on daily basis including the bucket of 7-14 days.
Penalty of 1% on all resident/NRO
deposits will be levied if the deposit is withdrawn prematurely.
No interest will be payable if
the resident/NRO FD is prematurely withdrawn before 30
days.
1% penalty on NRO FD if prematurely
withdrawn after 30 days.
Resident senior citizens will
be paid an additional 0.5% interest on their deposits.
1% penalty on NRE FD if prematurely
withdrawn after 1 year.
No interest will be payable if
the NRE FD is prematurely withdrawn before 1 year.
1% penalty plus swap cost of
FCNR (B) deposits for premature withdrawal. (Swap cost
applicable only for deposits above USD 30,000/-).
No interest is payable on premature
closure of FCNR deposit within a period of 1 year.
