Due to scheduled maintenance activity site will not be accessible from 23:30hrs IST on 2nd Mar 2013 to 01:30hrs IST on 3rd Mar 2013 & transaction will not be processed from 01.30hrs IST to 05.00hrs IST on 3rd Mar 2013. Inconvenience caused is regretted.
Terms and Conditions for e-TDR / e-STDR
- The e-TDR/e-STDR in INR will be generated in the same name(s) of the account holder(s) as in account from which it is funded.
- The interest proceeds on the Term Deposit (e-TDR), will be credited by default to the account from which the Term Deposit (e-TDR) was funded.
- Bank will deduct the income tax as per the law applicable and in case no tax is to be deducted, form 15H/G has to be submitted by the depositor to the branch just after opening the e-TDR/e-STDR and at the beginning of the Financial Year in the subsequent Financial Years.
- e-TDR/e-STDR with additional rate of interest for senior citizens will be issued if option for "Senior Citizen" is selected by the customer and age of customer is 60 Yrs or above, on the date of creating the fixed deposit, as per date of birth recorded with the Bank. The minimum days and minimum amount applicable for additional rate of interest for senior citizen will be as per Bank’s policy.
- If you choose the Senior Citizen option, then you must ensure that your age as on the date of making the deposit is 60 years or more. If at any time the Bank discovers that you did not qualify for the Senior Citizen benefit, the Bank reserves the right to recover from you any additional amount of interest that the Bank might have paid to you and take any other action as permitted by law.
- In case of joint accounts, the Senior Citizen benefit can be availed only if the first account holder qualifies for this benefit.
- The term deposit under Income Tax saving scheme is currently available through branch only.
- In the absence of demand for payment or instruction to the branch, on or before the date of maturity, e-TDR/e-STDR will be renewed / continued for the similar period(s) at prevailing rate of interest.
- As per section 206AA introduced by Finance (No. 2) Act, 2009 effective April 01, 2010, every person who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall be deducted at the rate of 20% in case of Domestic deposits and 30.90% in case of NRO deposits.
- Additionally, in the absence of PAN, Form 15G/H and other exemption certificates will be invalid even if submitted & penal TDS will be applicable.
- Kindly visit your SBH branch with your PAN card (original & copy) to get the same updated on the bank records.
