| |
|
| Q1. |
What
is the procedure for repayment of Fixed Deposit on maturity? |
| |
Kindly,
affix one rupee revenue stamp on the space provided
for the purpose on the reverse of FDR. First applicant
must sign across the same, in case of individual
F.D holders and by authorized signatories in case
of Company, trust, body corporate or power of
attorney holder as per specimen signatures recorded
with the company. In case of change in the authorized
signatories, request letter must be duly supported
by board resolution/ trust deed. Fdr should be
sent to our operating office at least 15 days
in advance to us from the date of maturity, to
ensure repayment of Fdr on time.
Click
here for format |
| Back... |
|
 |
| Q2. |
What
is the maximum period of sending Fdr in advance for repayment
? |
| Ans. |
You can send Fdr two
month in advance from the date of maturity. |
| Back... |
|
|
| Q3. |
What
is the mode is adopted for repayment of Fdr by the company? |
| Ans. |
Repayment of principal
amount will be made by means of a/c payee warrant or demand
draft (If fd amount exceeds Rs. 50,000) drawn on the Company’s
bankers & payable at par at selected branches in India. |
| Back... |
|
|
| Q4. |
Can
I withdraw the fixed deposit amount before maturity? |
| Ans. |
Yes, deposit can be repaid
after six months, from the date of deposit. Interest
shall be paid @1% less than the rate the company
would have paid , had the deposit been accepted
for the period for which the deposit has run. Covering
letter for request of pre-mature payment , duly
discharged FDR as explained under sl. No.1) &
unencashed interest warrants (if any), must be sent
to the company for the purpose.
|
| Back... |
|
|
| Q5. |
Am
I permitted to take loan from the company on my Fixed
deposit? |
| Ans. |
No, Company cannot grant
loan against the Fixed deposit. |
| Back... |
|
| |
|
| F.
Appointment of Nominee |
| |
|
| Q1. |
How
do I make nomination with regard to my Fixed Deposit? |
| Ans. |
Kindly submit the
Fixed Deposit Receipt, in original, to the Company
along-with nomination form, in duplicate, duly signed
by the first / sole holder. The format of the nomination
form is provided in the link below.
Nomination is valid only if Fixed Deposit has originally
been made in single name. No request for nomination
will be entertained in case first applicant is a
Company, Body Corporate or a Trust. A Power of Attorney
Holder is also not allowed to nominate, on behalf
of the original Fixed Deposit holder.
Click
here for format |
| Back... |
|
|
| Q2. |
Can
I nominate a minor with regard to my Fixed Deposit? |
| Ans. |
A minor can be appointed
as a nominee, under the legal or natural guardianship
of a major person i.e a person over the age of 18
years. |
| Back... |
|
|
| Q3. |
Can
the nomination be changed at any point of time?
|
| Ans. |
The holder of Fixed
Deposit can change his / her nominee at any point
of time, before the maturity of Fixed Deposit. For
this a fresh nomination form, in duplicate, duly
signed by the first holder is to be filed with the
Company.
The format of the nomination form is provided in
the link below.
Click
here for format |
| Back... |
|
| |
|
| G.
Transmission Of Fixed Deposit |
| |
|
| Q1. |
In
the event of death of first applicant, how do surviving
joint applicant(s)/ nominee get the Fixed Deposit transferred
in their names? |
| Ans. |
An application duly signed
by joint applicant(s) /nominee, Fdr in original
along with certified copy of death certificate ,
must be sent to our operating office. On receipt
of above mentioned documents new F.D receipt duly
endorsed in the name of first joint applicant /nominee
will be returned to the new F.D holder. The second
joint holder of original FDR will automatically
became first joint applicant of the Fixed Deposit.
No other person other than first joint applicant/nominee
will be recognized by the company for transmission
of Fixed Deposit, unless directed by the court.
Click
here for format |
| Back... |
|
|
| Q2. |
Can
new F.D holder(s) add name of another joint name or nominee? |
| Ans. |
Yes, name of joint name(s)
can be added in the Fixed deposit. However, there can
be only three joint applicants, including first applicant
for each Fdr. Nominee can be appointed in case there is
no joint applicant in the Fixed Deposit. |
| Back... |
|
|
| Q3. |
If
F.D holder , holding Fdr in his/her sole name dies, how
can his/her legal heir(s) get FDR transmitted in their
name(s)? |
| Ans. |
In such a situation copy
of the registered will must be sent to the company
along with FDR & request in writing for transmission
of FDR. . However, Company may ask for completion
of other formalities to its satisfaction before
transmission of the Fixed deposit.
Click
here for format |
| Back... |
|
|
| Q4. |
What
will be the transmission process in case sole F.D holder
dies without leaving the will? |
| Ans. |
Company may transfer the
Fdr on submission of Certified copy of Succession certificate.Under
special circumstances, the company may consider transmission
of Fixed Deposit, on submission of duly executed Indemnity
bond & Affidavit, as per format provided in the link
below.
Instructions for transmission of Fixed Deposit:
- Request letter for transmission
- Certified copy of the death certificate
- Copy of registered will of the deceased person.
- Certified copy of succession certificate/submission
of duly executed Indemnity bond & affidavit, as
per format below.
Click
here for format |
| Back... |
|
| |
|
| H.
Revalidation of refund/ interest warrant(s)/Demand Draft. |
| |
|
| Q1. |
What
is validity period of refund/ interest warrant(s)/Demand
Draft. |
| Ans. |
Each refund/interest warrant
is valid for three months and Demand Draft is valid for
six months, unless mentioned otherwise on the same, from
the date mentioned on the same. |
| Back... |
|
|
| Q2. |
I
have forgotten to deposit refund/ interest warrant(s)/Demand
Draft within validity period. How can same be re-validated? |
| Ans. |
Kindly, send us request
letter along with refund/ interest warrant(s)/Demand
Draft in original to our operating office for revalidation.
Fresh Demand Draft in lieu of the above mentioned
instrument(s) will be issued to you.
|
| Back... |
|
| |
|
| I.
Duplicate Tax Deducted at Source (TDS Certificate). |
| |
|
| Q1. |
I
have not received the TDS certificate from the company.What
should I do to get the same? |
| Ans. |
In case you have
opted for non-cumulative Fixed Deposit scheme, overleaf
of counter-foil of your interest warrants is the
TDS certificate for the Financial year.In case of
cumulative scheme, TDS certificate (s) is sent after
one month from date of due / accrued interest on
the Fdr in each Financial year. |
| Back... |
|
|
| Q2. |
I
have lost my TDS certificate(s), how can I get duplicate
TDS certificate? |
| Ans. |
Kindly, send us a
request to the company in the format as provided
in the link below. The request letter for issuance
of duplicate TDS certificate must be signed by first
applicant in case of individual F.D holders and
by authorized signatories in case of Company, trust,
body corporate or power of attorney holder as per
specimen signatures recorded with the company. In
case of change in the authorized signatories, request
letter must be duly supported by board resolution/
trust deed. On receipt of the documents mentioned
above, duplicate TDS certificate will be issued
to the F.D holder.
Click
here for format |
| Back... |
|
| |
|
| J.
Tax Deducted at Source & 15-G |
| |
|
| Q1. |
Under
what circumstances is Tax Deducted at Source? |
| Ans. |
As per prevailing Income
tax laws, if aggregate amount of interest paid/ accrued,
during a Financial year exceeds Rs. 5,000/-, tax will
be deducted at source. Net interest after deduction will
be paid to the F.D holder. |
| Back... |
|
|
| Q2. |
How
can one get exemption from TDS deduction? |
| Ans. |
Resident Individuals
can avail the exemption by furnishing form no. 15-G,
provided the total annual income by way of interest
does not exceed the limits as prescribed under income
tax rules. Please, refer to link below to download
form 15-G.
TDS exemption can be granted to Companies, trusts
& trade unions or any individual (other than
mentioned above) only on received of letter to
this effect issued by Income Tax Department.
Click
here for format
|
| Back... |
|
| |
|
| K.
Change in name of F.D Holder |
| |
|
| Q1. |
Can
Fixed deposit holder(s) change his/ its name in the records
of the company? |
| Ans. |
Company does not allow
change in name of the F.D holder(s). However, on furnishing
of following documents for each category of F.D holders,
same can be considered for the purpose: |
| |
- Individuals: An affavavit,
alongwith request letter duly signed by all
joint depositors must be sent to the company.
Format of the affadavit is provided in the link
below for your ready refrence.
- Company: Copy of Board resolution
and certificate of incorporation from respective
registrar of Company will be required alongwith
request letter for the purpose.
- Trusts: Copy of new trust
deed , documents supporting registration of
new name of the trust with registrar or sub-registrar
and request letter for the purpose.
- Trade Union: Copy of board
resolution, documents supporting registration
of new name of the trust with registrar or sub-registrar
alongwith request letter for the purpose.
Click
here for format
|
| Back... |
|
| |
|
