POSTED BY November 6, 2014 9:21 am ONE COMMENTON
I will take an example. Lets say I am 58 years old. I create a deposit of 5 years at say 8.5% (for ordinary citizens) in 2014. After 2 years, I will be 60 years. So
1) will my deposit (that I created in 2014 at 8.5%) will start earning 9% automatically in 2016?
2) can the bank start paying 0.5% extra upon my communication to the bank that now I am 60, so please start paying 9% now?
3) Bank will never pay 0.5% extra for deposit created at the age of 58 years even after my communication?