The company reserves the right to reject any application for opening the account without assigning any reason.
The company reserves the right to attach/transfer any account to any of its branch.
Defaulters will be charged Rs. 100/- per 15 days.
The tenure of the account is 12 months and above.
The Member Account Holder shall surrender the passbook and duly signed
maturity form to the company and the maturity shall be paid along with
interest as per the below mentioned Chart. No additional interest would
be paid on the maturity amount, if taken after the scheduled period.
1. Maturity payment of regular accounts :-
Maturity amount shall be paid to the MemberAccount
Holder within 7 days from the demand made with the company
2. Maturity Payment of irregular accounts :-
The account where in the memberAccount Holder has not continued the account regularly,
as specified in clause (i) above would be treated as irregularAccount. The company will
charge liquidated damages on these irregular accounts on account of non receipt of deposit
installments in time and the resultant loss of investment opportunity. etc. The liquidated
damages would be deducted from or adjusted against the interest amount payable to the member
account holder. No deduction of any kind shall be made from the principle amount deposited by
the member account holder. Therefore, at the time of maturity, the payment in these accounts
shall be made with interest as per the chart available at the company offices.
3. Pre-Maturity is not allowed at any point of time but member can avail loan facility.