What are the modes by which the interest is paid?

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• When is Income Tax deducted at source from interest?

  If the estimated annual interest paid/credited or likely to be credited/paid on the deposit/s exceeds or is likely to exceed Rs.5000/- during the financial year, it is obligatory on the part of the deductor of tax to deduct Income Tax at source. ...

• Will the deposit be paid back in cash?

  No. Deposit will be paid back only to the corresponding bank account updated.

• What is the rate of interest chargeable for loans?

  FD investment amount carrying interest @ 2% per annum (at half-yearly rest) above the FD interest rate on a cumulative basis.

• Is there an extra interest rate for senior citizens?

  Yes, senior citizens get an additional interest rate of 0.25% per annum.

• When will the interest be credited in a non-cumulative scheme?

  In a non-cumulative scheme: • Yearly interest will be credited on 31st of March of every year • Half yearly interest will be credited on 30th of September and 31st of March of every year • Quarterly interest will be credited on the 30th of June, 30th ...