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 Where a deposit is so allowed to be prematurely withdrawn the relative deposit receipt must be discharged by all the depositors in case of A or S/s deposit and by the first named depositor in case of F or S/s deposit.
In the event of death of a depositor, the Company shall repay the deposit prematurely, even within the lock-in period
|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**)
|After 3 months but before 6 months
|After 6 months but before the date of maturity
||The Interest payable shall be 2 per cent lower than the Interest rate applicable to a deposit for the period for which the deposit has run or if no rate has been specified for that period, then 3 per cent lower than the minimum rate at which deposits are accepted by the Company*