Maturity Intimation letter is being sent 14 days 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
| Scenario | Anyone or Survivor | Number One or Survivor |
| Regular payment on maturity | Anyone can sign | Number one alone can sign |
| Premature payment | All of them have to sign | Number one alone can sign |
Premature withdrawal
The Company reserves the right to allow, at its absolute discretion, withdrawal of deposits before maturity. Where a deposit is so allowed to be prematurely withdrawn, the relative deposit receipt must be discharged by both / all the depositors in the case of A or S/s deposit and by the first named depositor in the case or F or S/s deposit.
Premature Payment (PMP) / withdrawal will not be allowed before completion of three months from the date of deposit.
In case of request for premature withdrawal after the expiry of three months, the rates given in the below table shall apply.
| Up to 3 months from the date of deposit / renewal (Lock-in-period) |
No repayment (Not applicable in case of premature repayment in the event of death of the depositor) |
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However, in order to meet certain expenses of emergent nature, subject to satisfaction of the Company:
- 1.Tiny deposit will be repaid without interest, at the request of the depositor. (‘Tiny deposit’ means the aggregate amount of public deposits not exceeding Rs. 10,000/- standing in the name of the sole or the first named depositor in the same capacity in all the branches of the housing finance company.)
- 2.In case of deposits other than tiny deposit, not more than fifty per cent of the amount of the principal sum of deposit or Rs. 5 lakh, whichever is lower, may be prematurely paid to individual depositors, at the request of the depositors, before the expiry of three months from the date of acceptance of such deposits, without interest. The remaining amount with interest at the contracted rate shall be governed by the provisions of the extant Directions as applicable for public deposits.
- 3.In cases of critical illness, hundred percent of the amount of the principal sum of deposit, may be prematurely paid to individual depositors, at the request of the depositors, before the expiry of three months from the date of acceptance of such deposits, without interest. For the above purpose, expenses of an emergent nature includes medical emergency or expenses due to natural calamities / disaster as notified by the concerned Government / Authority.
‘Critical illness’ shall be guided by the IRDAI (Health Insurance) Regulations, 2016 and the guidelines issued thereunder, as amended from time to time.
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| After 3 months but before 6 months. |
3% |
| After 6 months but before the date of maturity |
The interest payable shall be 1 percent lower than the interest rate applicable to deposit for the period for which the deposit has run or if no rate has been specified for that period, then 2 percent lower than the minimum rate at which deposits are accepted by the Company |
- The interest payable shall be 1 percent lower than the interest rate applicable to deposit for the period for which the deposit has run or if no rate has been specified for that period, then 2 percent lower than the minimum rate at which deposits are accepted by the Company.
- The interest rate as decided by the Company on the date of repayment will be paid subject to NHB Directions in force.