2. This instrument is not transferable and non marketable except to the relatives of the holder.
3. Transfer of this instrument is required the permission of the company.
4. In case of premature claim before the 6 months from the issue date, there shall not be paid any interest, after 6 months and before maturity date pre matured charge will be @ 2.50% for panel interest, opted by the holder.
5. In case of premature claim before the maturity of Recurring Deposit or Daily Deposit, following charges will be levied, Maintenance Charges: Rs.1000 yearly, SMS Charges: Rs.600 yearly, Collection and IT Charges: Rs.400 yearly.
6. At the end of the term company will be release the redemption amount to the holder by cheque or electronic transfer in favor of the holder.
7. In case, the nominee claims the redemption amount, he/she shall have to produce the legal documents of his/her identity and an affidavit or a legal document proving the relationship with the holder.
8. In case of premature claim, the holder shall have to apply in written to the company in duly filled premature withdrawal form along with original certificate and receipts. Premature withdrawal may be permitted or refused by the company only and can not be claimed as a matter of right by the holder or nominee.
9. The interest shall be calculated annually and face value plus any interest that may have accrued is payable on redemption only.
10. In case of non claim, the holder or nominee can not claim the interest after 15 months period and company holds the principle amount and interest of 15 months and pay to the holder pr its nominee on claim without any further interest.
11. The redemption amount shall be returned to the nominee, in case of the death of the holder and nominee have to present the legal death certificate of the holder.
12. In case of non claim or the inactive the account of holder, the mature amount shall be kept reserve with the company and after the maturity date there shall not be paid any interest by the company.
13. Income tax deducted at source(TDS)-TDS on interest payment is applicable as per the income tax act, 1961. Tax once deducted at source will not be refunded by the company.
14. In case of any dispute, all the matters shall be entitled to the arbitration act 1996. The arbitrator shall be appointed by the company.
