Canara Bank earlier introduced Non-Callable Deposits for Domestic term deposits of above Rs.15.00 lakh (including individuals and HUF) from 16.01.2023.
Now, RBI vide Master Direction RBI/2023-24/74, DOR.SPE.REC.No 51/13.03.000/ 2023-24 dated 26.10.2023 on Non-Callable Deposits – Master Direction on Interest Rate on Deposits, has reviewed and decided to increase the minimum amount for Non-Callable Term Deposits from Rupees Fifteen Lakh to Rupees One Crore i.e., all domestic term deposits accepted from individuals for amount of Rupees One Crore and below shall have premature-withdrawal facility and these instructions shall also be applicable for Non-Resident (External) Rupee (NRE) Deposit / Ordinary Non-Resident (NRO) Deposits.
In view of the above, minimum amount for Non-Callable Term Deposits stands revised from “Above Rs.15.00 Lakh” to “Above Rs.1.00 Crore” with immediate effect.
Rate of interest for revised minimum amount for non-callable Domestic / NRO and NRE is posted here.
RBI raised the minimum amount for Non-Callable Deposits with immediate effect!
