If you fail to deposit the minimum deposit amount of Rs. 250/- in a year, then the account is considered a ''default account''. For activating a default account, you will be required to pay the minimum deposit amount along with Rs. 50/- as a penalty for every year you fail to deposit the minimum deposit amount.
If you don't activate a default account within 15 years from the date of account opening, then the amount deposited before default will earn standard savings interest only.
Comments
0 comments
Please sign in to leave a comment.