Can a premature proceeding be paid favouring the second/third depositor?

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• Will the deposit be paid back in cash?

  No. Deposit will be paid back only to the corresponding bank account updated.

• What is the process of taking premature withdrawal?

  No premature withdrawal will be allowed before the completion three months from the date of receipt as per the directions of the RBI currently in force. In case of request for premature withdrawal after the expiry of three months, the rate given in ...

• Are there any charges in case of premature withdrawal of deposit?

  In case of premature withdrawal after completion of 6 months the interest rate payable shall be 2% lower than the interest rate applicable for the period for which the deposit has run or if not, rate has been specified for that period, then 3% lower ...

• What are the modes by which the interest is paid?

  The interest is directly credited to the investor’s bank account via ECS.

• When is Income Tax deducted at source from interest?

  If the estimated annual interest paid/credited or likely to be credited/paid on the deposit/s exceeds or is likely to exceed Rs.5000/- during the financial year, it is obligatory on the part of the deductor of tax to deduct Income Tax at source. ...