Depositors may request repayment of their deposits before maturity. Repayment of term deposits before maturity is permissible.
In the event of the FDR being closed before completing the original term of the deposit, interest will be paid at the rate applicable on the date of deposit, for the period for which the deposit has remained with the Bank, the contracted rate whichever is lower without charging any penalty for premature closure. No interest will be paid on term deposit which remain with the bank for less than 7 days. In case the depositor desires to renew the deposit by seeking premature renewal, the deposit is renewed for a period longer than the balance period of the original deposit.