NEWS & ADVICE : FIXED DEPOSITS
SBH waives pre-closure penalty of FDs from April 1
By Neelima Shankar
Apr 1, 2013
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State Bank of India's subsidiary, State Bank of Hyderabad (SBH) has waived off the penalty charges of all fixed deposits which are either opened or renewed on or after April 1.

The waiver would be applicable only if the deposit has remained with the bank for at least seven days and more. Interest would be paid for the period of deposit at the published rate.

State Bank of Hyderabad is also introducing a new term deposit scheme from April 1 with a maturity period of seven days to 14 days at 5 per cent interest for single deposit of Rs 25 lakh and above, according to a press release by the bank.


 


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