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All rates mentioned above are Per Annum basis. Profit on Term Deposits exceeding one year will
be paid annually.
In the case of term deposits which are not encashed on maturity.The
principal amount will automatically be renewed for the same period
for which the Deposit was originally placed.
On premature
withdrawal of Fixed Term Deposits, a penalty at the rate of 2% from
the date of payment to the date of maturity is to be recovered.
In case the profit payable on the deposit becomes negative due to
recovery of the penalty, then no profit should be paid to the
customer.
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Here is a Term Deposit Account that really makes
the most of your money. If you have funds that you can invest for the
long term, this is the ideal option for you. Effective January 1,
2005 following rates of return apply:
