The applicable rate would be the interest rate applicable for the period of deposit for which the FD remained with the bank or at the contractual rate, whichever is lower. Interest will be paid after deducting the penal rate (1%) from the applicable rate.The FD can be used to make bona fide remittances overseas without any prior approval.Deposits held jointly with residents can be operated only on a ‘ Survivor or Former’ basis.Depositors can hold deposits in any of these currencies: US Dollars (USD), Pound Sterling (GBP), Japanese Yen (JPY), Euros (EUR).
1 year to 2 years (EURO, JPY, CAD, AUD).1 year to 3 years (USD, GBP, DKK, CHF, SEK).Depositors can hold deposits in any of these currencies: US Dollars (USD), Pound Sterling (GBP), Japanese Yen (JPY), Euros (EURO), Canadian Dollars (CAD), Australian Dollars (AUD), Danish Krone (DKK), Swiss Francs (CHF), and Swedish Krona (SEK).Get Lifetime FREE Step UP Credit Card With No Annual Fees
