Manner of Calculation of interest:
For savings and term deposit products, actual number of days in the month and year will be reckoned for interest application. Further, for cumulative deposits, compounding is done on calendar quarter basis. For 'Dhanam Abhivridhi' deposit product and other IBA type products, interest is calculated by taking the number of days reckoning the month and year at 30 days and 360 days respectively and compounding is done on Anniversary quarter basis.
Premature Withdrawal Penalty for Term Deposits w.e.f April 18, 2016
Revised procedure on renewal of Domestic/NRO/NRE overdue term deposits effective from November 15, 2014