Ing Vysya Bank Rd Interest Rates

Hello buddy I thinking to open an account in Ing Vysya Bank for RD so I want to know the interest rates of the RD please tell me??

Here is the details of Ing Vysya Bank for RD interest rates .

Disclaimer

Note: Interest rates are subject to periodic changes.

The applicable interest rates will be proposed based on the date and time of receipt of the funds by the bank.

Recurring Deposit Advice will be dispatched to your registered mailing address with the bank within 3 - 4 working days of opening the RD account
Not available for Non Resident Indians / Persons Of Indian Origin

Penalty on delay in payment of RD installment-

In case of delay in payment of any installment post grace period of 5 days, penal interest at the rate of RD interest rate (contracted rate of interest at the time of booking of the RD) + 2% p.a. or such other rate as may be specified by Bank from time to time, will be charged for the month of delay.

Fraction of a month will be treated as full month for the purpose of calculating such interest.

Even if the payment for the month is honored , but the standing instruction towards installment recovery has failed, the Bank will recover a standing instruction failure charge from the current / savings bank account as per General Features and Schedule of Charges (GFSC)

The total penal interest on expenses shall be recovered from the total amount of interest payable by the bank and shall be recovered only at the time of maturity or premature closure of the account as the case may be.

Premature Withdrawal of RD-

In case of untimely closure of this deposit within a month, no interest shall be paid and only principal amount will be returned.
On premature withdrawal of RD.

The interest will be paid at the rate prevailing on the date of deposit for the occupancy the deposit remained with the bank or at the contracted rate, whichever is lower post deducting penal charge of 0.5% on premature withdrawal of deposit

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Answered By StudyChaCha Member