Up to 3 months from the date of recurring deposit (Lock-in-period) - No Repayment (Not applicable in case of premature repayment in the event of death of the depositor**)Īfter 3 months but before 6 months - No interest*Īfter 6 months but before the date of maturity - The interest payable shall be 2% lower than the interest rate applicable to a public deposit for the period for which the public recurring deposit has run or if no rate has been specified for that period, than 3% lower than the minimum rate at which public deposits are accepted by the company* As per the Directions of RBI currently in force, premature repayment: Where a recurring deposit is allowed to be prematurely withdrawn the relative recurring deposit receipt must be discharged by all the depositors in case of A or S/s deposit and by the first named depositor in case of F or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. The company reserves the right to allow, at its absolute discretion, withdrawal of recurring deposit before maturity. How can premature withdrawal be done and what are charges applicable?
