1. For premature withdrawal, Recurring Deposit (RD) account should be running for min. 1 year with 12 monthly deposits.
2. Only 1 withdrawal can be made before maturity, with continuity of instalment deposits.
3. Only 50% max of deposits made (not accrued interest) till that date can be withdrawn, with simple interest charges.
4. After a premature withdrawal, RD interest will drop by 1-2%, which gets restored after the amount is repaid.
5. Withdrawn amount has to be repaid in lumpsum, or Equated Monthly Instalments (EMIs) on particular dates, within 3 months.
6. Upon failure to do so, a penalty of 1-3 per 100, for this period is charged, along with continuing of reduced interest on existing deposits, and may also lead to early closure of the account.
7. Upon account closure, the balance withdrawn amount will be deducted, with interest and fine due, from the maturity amount proceeds.
2. Only 1 withdrawal can be made before maturity, with continuity of instalment deposits.
3. Only 50% max of deposits made (not accrued interest) till that date can be withdrawn, with simple interest charges.
4. After a premature withdrawal, RD interest will drop by 1-2%, which gets restored after the amount is repaid.
5. Withdrawn amount has to be repaid in lumpsum, or Equated Monthly Instalments (EMIs) on particular dates, within 3 months.
6. Upon failure to do so, a penalty of 1-3 per 100, for this period is charged, along with continuing of reduced interest on existing deposits, and may also lead to early closure of the account.
7. Upon account closure, the balance withdrawn amount will be deducted, with interest and fine due, from the maturity amount proceeds.