As per the Housing Finance Companies (NHB) Directions 2010, no premature withdrawal is allowed for a period of first 3 months from the date of deposit subject to regulatory conditions. In case of premature withdrawal after the expiry of 3 months, the following rates shall apply.

• After 3 months but before 6 months - The maximum interest payable shall be 4 % per annum for the individual depositor and no interest in case of other category of depositors.

• After 6 months but before the date of maturity - Interest payable will be 1% less than the rate applicable to the deposit for which deposit remained with the company. If the interest rate has not been prescribed for such a period, then interest payable will be 2% lower than the lowest rate at which the public deposits are accepted by the company.

• For premature withdrawals of deposits, the duly discharged FDR with revenue stamp of requisite value must be surrendered to the company. Premature withdrawals of single or jointly held fixed deposits shall be processed only after such request is signed by all the depositors along with FDR duly discharged and a cancelled cheque leaf should be submitted.

• In the event of the death of a depositor, the Company may repay the Deposit prematurely (irrespective of the lock-in period) to the surviving depositor (which in the case of joint holders will be the first in the sequence of applicants in the Application) or to the nominee/ legal heir(s) of the deceased depositor, upon the request of surviving depositor/s/nominee/legal heir, as the case may be, and only subject to the submission of proof of death and other requisite documents to the satisfaction of the Company.