Term | Rate Of Interest Per Annum |
2 years 12% | 12% |
1 year – Below 2 years | 11.5% |
180 days – Below 365 days | 9% |
Terms of Pre-closure:
In case of pre-closure, the rate of interest will be calculated as per the table above.
Ex 1: Suppose customer did a SHG FD for 180 days, the rate of interest is 9% p.a. For some reason, after 95 days, he came and gave a request for pre-closure, the interest will be calculated as 5% p.a.
Ex 2: Suppose customer did a SHG FD for 1 year, the rate of interest is 11.5% p.a. For some reason, after 200 days, she came and gave a request for pre-closure, the interest will be calculated as 9% p.a.