Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are premature withdrawals allowed?

April 26, 2017allowed premature withdrawals

0

Posted

Are premature withdrawals allowed?

1 Answer

0

Posted

The Fixed Deposit will be repaid only on maturity and not on demand or notice. The company, however, at its sole discretion, may permit the depositor to withdraw the Fixed Deposit prior to maturity date on such terms as to rate of interest, recovery of brokerage etc, as the company may stipulate and as per the provisions of the companies (Acceptance of Deposits) Rules, 1975 as amended from time to time.