BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RBI revised premature deposit rules of which type of accounts?
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Kiddy accounts
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Current accounts
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Large value fixed deposit accounts
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Dollar savings accounts
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Explanation:
Detailed explanation-1: -Yes Bank penalty on FD premature withdrawal A 0.50 percent penalty will be imposed if the FD was closed in fewer than 181 days. If your tenure is 182 days or more, you will face a 0.75 percent penalty.
Detailed explanation-2: -The new FD rule is related to interest being paid on unclaimed or overdue FDs. As per the new rule, if a term deposit matures and proceeds are unpaid, the unclaimed amount will now earn a lesser interest rate.
Detailed explanation-3: -A term deposit is a fixed-term investment that includes the deposit of money into an account at a financial institution.
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