Resident Individual, Minor above 10 years of age.
As per the package and no. of passengers chosen by the customer the amount will vary.
Maturity of Deposit
The maturity amount (including the accrued interest) shall be auto-transferred to Thomas Cook Current Account maintained with our Bank, unless specific written request is given by the customer any time before/on maturity of the account.
Rate of Interest
As per the maturity period of the deposit.
An Additional interest @ 0.50 % is payable.
No penalty for premature payment will be levied in case of premature payment of deposits upto Rs.5 lacs provided it remained with the bank for a minimum period of 12 months
For premature closure of deposits of more than Rs.5 lac and less than Rs.1 crore, interest should be paid after deducting penalty of 1% from such applicable rate for the period the deposit has remained with the Bank, or the contracted rate whichever is lower in the cases which are subject to charging penalty
For premature closure of Deposits of Rs. 1.00 Crore and above the following conditions will apply:
- 31 days prior notice from customer is required, and
- Penalty @1.50% on applicable rate of interest for the period for which the deposit has remained with the bank.
Nomination is available
Method of Calculation of Interest on or Before Maturity
“In all cases of domestic term deposits (Period of deposit less than a year) where the terminal quarter is incomplete, interest should be calculated for complete quarter and for the actual number of days, reckoning the year 365/366 days, i.e. the calculation of interest on such deposits should be in order of completed quarters and days.
Penalty on delayed Payment of Installments
Irrespective of tenure uniform rate of ` Re.1/- per ` 100/- per month
Other Terms & Conditions
- No loan/overdraft facility available against this deposit
- A detailed term & conditions cum consent form is signed by customer while opening of the account.