Maturity Intimation letter is being sent 2 months in advance of the maturity date. The depositor has to surrender the Original Term Deposit Receipt duly signed (In case of Renewal, the depositor has to sign on the reverse of TDR with affixing a Revenue stamp; in case of Repayment, the depositor has to sign on the reverse of TDR affixing a Revenue stamp) with a renewal/ repayment instructions.
Signatories for Payments
Premature withdrawal
The company reserves the right to allow, at its absolute discretion, withdrawal of deposit before maturity. Where a deposit is so allowed to be prematurely withdrawn the relative deposit receipt must be discharged by all the depositors in case of A or S/s deposit and by the first named depositor in case of N or S/s deposit.
As per the Directions of RBI currently in force:
* The interest rate as decided by the company on the date of repayment will be paid subject to NHB Directions in force.
In the event of death of a depositor, the deposit may be repaid prematurely, if required, to the surviving depositor/s in the case of joint holding with survivor clause or to the legal heir/s nominee with interest at the contracted rate up to the date of repayment.