![]() The interest is calculated on a quarterly basis for deposits with a tenor above 6 months. The minimum tenor for resident and NRO deposits of 2 crores is 1 year and 90 days for 5 crore & above. If you are an NRIs, Minors or Current Account holder, kindly book your Fixed Deposit via NetBanking or MobileBanking App. The Non Withdrawable Deposit is offered for amount 2 crore and above only. FD will get booked at your home branch.Please visit nearest branch / contact RM for clarification. Fixed Deposits booked with monthly or quarterly interest payout option, TDS recovery will by default happen from linked current / savings account.50,000/- for senior citizens) in a financial year.Individuals seeking exemption from TDS on the interest income of FD and RD, have to submit a completed Form 15 G/H at the nearest branch or online within the first week of the new Financial Year and every time a new deposit is booked. Maximize Returns - Money is never idle in the savings account. ![]() So you get the best of both the worlds - the liquidity of a Savings account and the benefit of higher interest rates. TDS will be deducted when interest payable or reinvested on RD and FD per customer across all branches exceeds Rs. With our MoneyMaximizer facility, convert your surplus money into high earning Fixed Deposits with the flexibility of using these funds whenever required.As per section 206AA introduced by finance (No.2) Act, 2009, every person who receives income on which TDS is deductible shall furnish his pan, failing which TDS shall be deducted at the rate of 20% (as against 10% (7.5% wef 14th May’2020 till 31st March’2021) which is existing TDS rate) in case of domestic deposits and 31.20% in case of NRO deposits.PAN card is required for Fixed Deposits greater than or equal to Rs.
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