It is important to appoint a Nominee for all your assets so that the assets reach the right person/s in the unfortunate event of your death. The nominee you select must be a reliable person who can take care of the assets. The following are the rights of the Nominee.

• He has no right over your money unless specified under the will or if he/she inherits the money.
• Nominee is mere custodian.
• He is the contact person for the account, in case the account holder is not reachable or in an event of the account holder’s death.
• The nominee directs the court on how to go about the account in case of the account holder’s demise.
• At the time of claiming for the deposit, the nominee will have to provide identification proof.
• If the nominee is a minor, the guardian will sign on his/her behalf.  We require the nominee’s and the guardian’s name, address and photograph.

As per the Terms & Conditions of Fixed Deposit Accounts of the Society, the penalty on premature closure of Fixed Deposits, including partial closures, the rate has been fixed by the Society at the time of premature of the deposit, fixed by Society time to time.

When your Fixed Deposit Account is booked with the quarterly / monthly interest pay out option, the maturity amount is the same as the principal amount. The interest amount will be credited to your account at quarterly / monthly intervals.

We offer additional rate of interest on Fixed Deposits for Senior Citizens. If you are a senior citizen, all you need to do is register as one by calling any Branch with proof of your Date of Birth. Once registered as a Senior Citizen, you are eligible for preferential rates of interest on Fixed Deposits.

While opening the account, the customer needs to provide proof of age establishing that he/she is a Senior Citizen. To accomplish this, either of the following can be submitted:

• Secondary School Leaving Certificate (10th Class)
• LIC Policy with Date of Birth
• Pension Payment Order
• Birth Certificate issued by the competent authority
• Valid Passport
• Defence ID Card / Govt. ID Card (Provided they have the cardholder’s photo, signature and date of birth)
• PSU Issued ID Cards
• Senior Citizen Cards issued by Indian Airlines / Indian Railway.
• PAN Card

You can, as long as the first account holder is a senior citizen and other Joint Holders also member of the Society.

You can submit your Deposit Receipts, duly discharged by all account holder/s, at the nearest branch for premature liquidation of your Fixed Deposit Receipts. In the absence of your Fixed Deposit Receipts, you need to submit the Indemnity Bond duly notarized.

Yes, there is a nomination facility on the Deposit account.

Partial payments are not possible.

If 6 (Six) consecutive RD instalments are unpaid, the Society reserves the right to close the RD account. The interest rate applicable on such closed accounts will be as per the premature withdrawal policy of the Society.

1. As per current policy of the Society on premature liquidation, the interest rate applicable for premature closure of deposits (all amounts) will be the lower of:

• • The base rate for the original/contracted tenure for which the deposit has been Opened OR
  • The base rate applicable for the tenure for which the deposit has been in force with the Society.
  • Further to the Terms & Conditions of Fixed Deposit Accounts of the Society, the penalty on premature closure of Fixed Deposits Receipts including sweep-in and partial closures has been fixed by the Society from time to time. This is applicable for all deposits.