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What is the redemption/renewal procedure?

April 26, 2017procedure redemption renewal

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What is the redemption/renewal procedure?

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The Fixed Deposit Receipt should be duly discharged by the investor 21 days before the maturity, citing the request for either case. OR A communication in the form of a Letter would be sent out to the investor a month before the maturity date of the investment asking for their preference i.e. renewal/ redemption. This letter can be sent to the Registered Office along with the Fixed Deposit Receipt.