BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
12 months
|
|
|
36 months
|
|
|
60 months
|
|
|
52 months
|
Detailed explanation-1: -With effect from April 29, 2003, the minimum maturity period for NRE deposits has been raised from six months to one year, making the range of the maturity period for fresh NRE term deposits from one to three years, in line with FCNR(B) deposits.
Detailed explanation-2: -If the deposit is closed before 12 months from the date of deposit, no interest is payable, and thus no penalty will be charged. This is because the minimum duration of an NRE Fixed Deposit is 1 year.
Detailed explanation-3: -For NRE Term Deposits, minimum period is 1 Year and maximum up to 10 Years.
Detailed explanation-4: -What is the minimum and maximum period for NRE deposits? The minimum is one year and the maximum is currently 10 years.
Detailed explanation-5: -Period of fixed deposit is from a Minimum 15 days to Maximum of 10 years.