Rich depositors can look forward to better returns on their money, as the Reserve Bank of India has allowed banks to offer higher rates of interest to those who agree not to prematurely withdraw their high-value fixed deposits.

Banks can offer such rates to depositors who can keep a minimum of 15 lakh (150, 000) rupees for the tenure of the deposit. At present, depositors are entitled to withdraw their deposits prematurely without giving any reason to the banker.

bbabo.Net