Icici fixed deposit online full#

But usually you are entitled to at least savings account interest.

Because RBIвЂ™s Guideline on such situation instruct to take their own decision to Banks.

How much you get for such overdue deposit entirely depends on individual bank rules.

You can renew such overdue deposit to the minimum for a 15 days period.

Any overdue deposit which is idle for more than 10 years is treated as inoperative account and transferred to BankвЂ™sВ Depositor Education and Awareness Fund Scheme.

If you not do so then your deposit is treated as Overdue deposit.

You need to renew it within 14 days of maturity date to get the continuation from the date of maturity.

Do remember few rules about forgetting to renew your deposit. So in this case there is a greater possibility that you may forget the exact date of maturity and so by earn less. So people still transact through physical mode.

Hence it is always advisable to track your FDs maturity.ДЈ) Track your own investments-In India still online banking penetration is less. In case you need money after auto renew and before maturity then there is penalty as early withdrawal. Second thing is you planned to invest Bank FD for two years but opted for 1 Yr deposit initially and then auto renew option. Also if you forget to notice that during your maturity such things may earn you lesser return. So check for such slabs before investing. I noticed such slab with HDFC but not with SBI or ICICI. You will not get any notification for this from banks. After maturity your deposit will get auto renewed to same tenure of 1 Yr 16 days and have possibility to earn less than 1 Yr 15 days or 1 Yr 4 days deposit. But later on Bank changed itвЂ™s offering slab like for all 1 Yr 16 days deposit interest will be 8.75%. Thinking so if you deposit for 1 Yr 16 days and chosen the auto renew option. Now the best offer is to deposit for 1 Yr 16 days as the interest is at 9% but for 1 Yr 17 days it is 8.75%. Notice in below image of HDFC current bank interest offerings. But here in this option even though you feel your amount continually earn return but have two drawbacks.ДЇirst drawback is you may loose some % of interest part.

If you choose auto renew option then banks will automatically renew your FDs at same tenure for a that dayвЂ™s applicable interest rate. One is auto renew and second is deposit of amount to your account after maturity. So from both point of view this type of investment is always good.Дў) Choose auto renew option-You have two options while depositing. In case of emergencies you can redeem it instantly and amount will be your savings account. Also using this platform for investing in FD will have one more advantage. Advantage of this is, on maturity date amount will be credited to your account directly without any hurdle or remembrance from your side. Then it is always best to invest in FDs through net banking. So what are current laws related to this and how one can avoid such problems?ДЎ) Choose to deposit through net banking-If you have net banking facility for transacting your bank account.

Icici fixed deposit online full#

He approached the bank stating that bank need to give him full interest as of applicable FD rate till the period of withdrawal but not maturity date. But due to his busy schedule or huge investment data he forget to track this Bank FD and neither he withdrawn it nor renewed it. Suppose Mr.X deposited Rs.1,00,000 for tenure of 5 Yrs.