Non-callable term deposit have a lock-in period, which means a person cannot withdraw the money from the account before the maturity period.

The only exception to it during the following scenarios:

• In case of death of depositor/First depositor in case of joint account.
• In case of bankruptcy of depositor/s.
• In case of Government/Regulators order.
• In case of a court order.

Investment in the domestic non-callable Fixed Deposit starts with Rs.3 Crore and above. There is no upper limit on investment.

The key difference between callable and non-callable Fixed Deposits is the ability to do a premature closure. Premature closure facility is available with a callable FD whereas it’s not possible with a non-callable FD.

On the other hand, a non-callable FD offers much better returns when compared to a callable FD.

The biggest benefit of non-callable FD is better returns. Since the amount has lock-in period and cannot be closed prematurely, it offers a higher interest rate compared to the regular callable FD.