Premature withdrawal of a deposit may be allowed subject to the following conditions, namely :-
(a) No deposit may be withdrawn before the expiry of six months from the date of deposit.
(aa) Where a deposit in a 1 year, 2 year, 3 year or 5 year account is withdrawn prematurely after 6 months but before the expiry of one year from the date of deposit, no interest shall be payable to the depositor.
(b) Where a deposit in a 2 year, 3 year and 5 year account is withdrawn prematurely after the expiry of one year from the date of deposit, interest on such deposit shall be payable to the depositor for the completed years and months falling in the period commencing on the date of deposit and ending with the date of withdrawal and such interest shall be calculated at the rate which shall be two percent less than the rate specified for a deposit of 1 year 3 2 years or 3 years as the case may be, in the concerned Table under rule 7.
(c) Any interest already paid on the deposit under rule 7 shall be recovered from the amount of repayment of deposit and the interest payable under this rule.