Contractual Agreement

This Terms of use (the "Agreement") govern the access or use by you, an individual or an entity, of website, applications, content, products, and services (the “Services”) offered by www.shriramcity.in , Shriram City Union Finance Limited having its registered office at 123, Angappa Naicken Street, Chennai-600001, Tamilnadu, India along with office in other states. This Agreement includes, and incorporates by this reference, the policies and guidelines referenced below. If you do not agree to these Terms, you may not access or use the Services.

Shriram Finance Limited reserves the right to change or revise the terms and conditions of this Agreement at any time by posting any changes or a revised Agreement on this Website. Shriram Finance Limited may amend this Agreement from time to time. Amendments will be effective upon posting of such updated Agreement at this location or the amended policies or supplemental terms on the applicable Service. Your continued access or use of the Services after such posting constitutes your consent to be bound by the Agreement, as amended.

Shriram Finance Limited encourages you to review this Agreement whenever you visit the Website to make sure that you understand the terms and conditions governing use of the Website.

This Agreement does not alter in any way the terms or conditions of any other written agreement you may have with Shriram Finance Limited for other products or services. If you do not agree to this Agreement (including any referenced policies or guidelines), please immediately terminate your use of the Services. If you would like to print this Agreement, please click the print button on your browser toolbar.

Use of information collected

Shriram Finance Limited may use the personal information that is collected from you to provide requested products and Services and for our internal business purposes, including, but not limited to:

• Maintaining and managing your account with us;
• Responding to your requests for our services;
• To process your transactions and to provide you with transaction and post transaction-related services,
• providing, improving, and marketing our products and services, including site content and performance;
• Evaluating your use of the services;
• Providing advertising for products and services that might interest you;
• Communicating with you by e-mail, postal mail or courier, and/or telephone about products or services that may be of interest to you;
• Keeping you updated on the issues that are relevant to your business relationship with us;
• Monitoring your compliance with any terms and conditions associated with our products and services, including to confirm your identity;
• Performing other functions as described to you at the time of collection or pursuant to your consent.

In addition, certain information we collect, such as the IP address of any computer or other device that you use to access our website and any other domains that may be operated by Shriram Finance Limited, will be used to monitor and investigate possible violations of and enforce any terms and conditions associated with our products and services or other applicable agreements between you and Shriram Finance Limited. Our use and sharing of your personal information in the manner described in this Privacy Policy may involve the transfer of your personal information to Shriram Finance Limited, Shriram group companies or to third parties.

Customer Solicitation: Unless you notify our third party call center reps or direct Shriram Finance Limited sales reps, while they are calling you, of your desire to opt out from further direct company communications and solicitations, you are agreeing to continue to receive further emails and call solicitations Shriram Finance Limited and its designated in house or third party call team(s).

Opt Out Procedure: We provide 2 easy ways to opt out of from future solicitations.

• You may use the opt out link found in any email solicitation that you may receive
• You may send a written remove request to Shriram Finance Ltd, 144, Santhome High Road, Santhome, Chennai – 600004, India.

Proprietary Rights: Shriram Finance Limited has proprietary rights and trade secrets in the Services. You may not copy, reproduce, resell or redistribute any Service provided by Shriram Finance Limited. Shriram Finance Limited also has rights to all trademarks and specific layouts of this webpage, including calls to action, text placement, images and other information.

Website policy

Shriram Finance Limited may collect and store information about you when you visit our site, use our services, or view our online advertisements. The information which Shriram Finance Limited collects and store during normal use of the site is used to monitor use of the site and to help further development of our products and services. We use this information to improve our Web-based offerings.

Use of Website and/or Services: Shriram Finance Limited is not responsible for any damages resulting from use of this website or Services by anyone. You will not use the Website or Services for illegal purposes. You will

• Abide by all applicable local, state, national, and international laws and regulations in your use of the Website (including laws regarding intellectual property),
• Not interfere with or disrupt the use and enjoyment of the Website or Services by other users,
• Not resell material on the Website,
• Not engage, directly or indirectly, in transmission of "spam", chain letters, junk mail or any other type of unsolicited communication,
• Not defame, harass, abuse, or disrupt other users of
• Be at least [18] years of age to use the Services; by using our Services you warrant and represent to us that you are at least [18] years of age. Shriram Finance Limited reserves the right to terminate and/or refuse to provide such person with access to the website, applications, content, products, and services if it is brought to Shriram Finance Limited’s notice or if it is discovered that such person is not eligible to use the website, applications, content, products, and services we will delete that information from our database.
• Shriram Finance Limited may invite your participation in various promotional initiatives through its presence on social networking websites, surveys and blogs operated by third parties, such as LinkedIn, Facebook, Instagram, Twitter, YouTube, Quora, WordPress (the “Third Party”) etc.
• Shriram Finance Limited may call, send you text (SMS, WhatsApp), push notification, and email messages as part of the normal business operation of your use of the Services. You may opt-out of receiving text (SMS, WhatsApp) and email messages from Shriram Finance Limited at any time by following the directions found in Opt out procedure. You acknowledge that opting out of receiving text (SMS, WhatsApp) and/or email messages may impact your use of the Services.

License: By using this Website, you may not copy, reproduce, transmit, distribute, or create derivative works of such content or information without express written authorization from Shriram Finance Limited or the applicable third party (if third party content is at issue).

Posting: By posting, storing, or transmitting any content on the Website, you hereby grant Shriram City Union Finance Limited a perpetual, worldwide, non-exclusive, royalty-free, assignable, right and license to use, copy, display, perform, create derivative works from, distribute, have distributed, transmit and assign such content in any form, in all media now known or hereinafter created, anywhere in the world. Shriram City Union Finance Limited does not have the ability to control the nature of the user-generated content offered through the Website or Third party. You are solely responsible for your interactions with other users of the Website or Third party and any content you post. Shriram Finance Limited is not liable for any damage or harm resulting from any posts by or interactions between users. Shriram Finance Limited reserves the right, but has no obligation, to monitor interactions between and among users of the Website or Third party and to remove any content Shriram Finance Limited deems objectionable, in Shriram Finance’s sole discretion.

Notice of copyright infringement

(1) Shriram Finance Limited does not permit copyright infringing activities on this site/applications and may remove any content of any kind, for example, if properly informed that the content infringes upon another’s copyright rights. Shriram Finance Limited may terminate the ability to submit content if, under appropriate circumstances, a person submitting content to its site/application is determined to be a repeat infringer.

(2) If you are a copyright owner or an agent thereof and believe that any content on the site/application infringes upon your copyrights, you may notify Shriram Finance Limited by providing the following information in writing:

• A physical or electronic signature of a person authorized to act on behalf of the owner of an exclusive copyright right that is allegedly infringed;
• Identification of the location where the original or an authorized copy of the copyrighted work exists;
• Identification of the material that is claimed to be infringing and a description of the infringing activity and information reasonably sufficient to permit Shriram Finance Limited to locate the same;
• Information reasonably sufficient to permit Shriram Finance Limited to contact you, such as an address, telephone number, and, if available, an email address;
• A statement that you have a good faith belief that use of the material in the manner complained of is not authorized by the copyright owner, its agent, or the law;
• A statement that the information in the notification is accurate, and, under penalty of perjury, that you are authorized to act on behalf of the owner of an exclusive copyright right that is allegedly infringed.

Disclaimers

The services are provided “as is” and “as available.” Shriram finance limited disclaims all representations and warranties, express, implied or statutory, not expressly set out in these terms, including the implied warranties of merchantability, fitness for a particular purpose and non-infringement. In addition, Shriram finance limited makes no representation, warranty, or guarantee regarding the reliability, timeliness, quality, suitability or availability of the services or any services or goods requested through the use of the services, or that the services will be uninterrupted or error-free. Shriram finance limited does not guarantee the quality, suitability, safety or ability of third-party providers. You agree that the entire risk arising out of your use of the services, and any service or good requested in connection therewith, remains solely with you, to the maximum extent permitted under applicable law.

Indeminity

You agree to indemnify and hold Shriram Finance Limited and its officers, directors, employees and agents harmless from any and all claims, demands, losses, liabilities, and expenses (including attorneys’ fees) arising out of or in connection with:

• Your use of the Services or services or goods obtained through your use of the Services;
• Your breach or violation of any of these Terms;
• Shriram Finance Limited’s use of your User Content; or (iv) your violation of the rights of any third party, including Third Party Providers.

Privacy

Privacy of communication is subject to the terms set out in the Privacy Policy.

Agreement to be bound

By using the Services, you acknowledge that you have read and agree to be bound by this Agreement and all terms and conditions on this Website.

General

Force Majeure: Shriram Finance Limited will not be deemed in default hereunder or held responsible for any cessation, interruption or delay in the performance of its obligations hereunder due to earthquake, flood, fire, storm, natural disaster, act of God, war, terrorism, armed conflict, labor strike, lockout, or boycott.

Cessation of Operation: Shriram Finance Limited may at any time, in its sole discretion and without advance notice to you, cease operation of the Website and Services.

Effect of Waive: The failure of Shriram Finance Limited to exercise or enforce any right or provision of this Agreement will not constitute a waiver of such right or provision. If any provision of this Agreement is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of this Agreement remain in full force and effect.

Governing Law: Chennai, Tamilnadu, India. This Website originates from the City of Chennai, Tamilnadu state of India. This Agreement will be governed by the laws of the State of Tamilnadu without regard to its conflict of law principles to the contrary. Neither you nor Shriram Finance Limited will commence or prosecute any suit, proceeding or claim to enforce the provisions of this Agreement, to recover damages for breach of or default of this Agreement, or otherwise arising under or by reason of this Agreement, other than in courts located in State of Tamilnadu, India. By using this Website, you consent to the jurisdiction and venue of such courts in connection with any action, suit, proceeding or claim arising under or by reason of this Agreement. You hereby waive any right to trial by jury arising out of this Agreement and any related documents.

Statute of Limitation: You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Products or Services or this Agreement must be filed within one (1) year after such claim or cause of action arose or be forever barred.

Waiver of Class Action Rights: BY ENTERING INTO THIS AGREEMENT, YOU HEREBY IRREVOCABLY WAIVE ANY RIGHT YOU MAY HAVE TO JOIN CLAIMS WITH THOSE OF OTHER IN THE FORM OF A CLASS ACTION OR SIMILAR PROCEDURAL DEVICE. ANY CLAIMS ARISING OUT OF, RELATING TO, OR CONNECTION WITH THIS AGREEMENT MUST BE ASSERTED INDIVIDUALLY.

Termination: Shriram Finance Limited reserves the right to terminate your access to the Website if it reasonably believes, in its sole discretion, that you have breached any of the terms and conditions of this Agreement. Following termination, you will not be permitted to use the Website and Shriram City Union Finance Limited may, in its sole discretion and without advance notice to you, cancel Product or Services. If your access to the Website is terminated, Shriram Finance Limited reserves the right to exercise whatever means it deems necessary to prevent unauthorized access of the Website. This Agreement will survive indefinitely unless and until Shriram Finance Limited chooses, in its sole discretion and without advance to you, to terminate it.

Domestic Use: Shriram Finance Limited makes no representation that the Services are appropriate or available for use in locations outside India. Users who access the Website from outside India do so at their own risk and initiative and must bear all responsibility for compliance with any applicable local laws.

Assignment: You may not assign your rights and obligations under this Agreement to anyone. Shriram City Union Finance Limited may assign its rights and obligations under this Agreement in its sole discretion and without advance notice to you.

Minimum Deposit

Deposits will be accepted in multiples of Rs. 1,000/- subject to a minimum amount of Rs. 5,000/-.

Scheme And Tenure

Company accepts cumulative and non-cumulative deposits for different tenures as mentioned on the first page of the application form. Where the Scheme or Tenure is not indicated / opted in the Application form or multiple selection made, the deposit will be treated as placed in Cumulative Deposit Scheme for 36 months. In case customer opts for Non-Cumulative deposit option but the interest payout frequency is not indicated or multiple selection is made in the application form, the deposit will be treated as placed in monthly payout frequency scheme.

Interest

Interest rate is fixed for the entire period of deposit.

Interest will be computed on Cumulative deposit from the date of deposit (date of realisation) until March 31st. Interest for the subsequent year/s would be computed on the accumulated balance [principal and interest (net of TDS, if any)] as of March 31st until the next March 31st or maturity date whichever is earlier. Interest is compounded at monthly rest for Cumulative deposit and Non-Cumulative deposit where interest pay-out is Quarterly/Half-yearly/Yearly. Interest [net of TDS, if any] will be credited to the depositor ledger on 31st March of each year.

Interest payment for Non-Cumulative Deposit will be made only through National Electronic Fund Transfer (NEFT) as per the below given schedule.

Identification of Depositors

To comply with “Know Your Customer” guidelines for NBFCs prescribed by the Reserve Bank of India, applicant(s) should provide a self-attested copy of ID proof and Address proof. Any one of the following KYC documents (which contains the photograph of the concerned depositor(s)) can be submitted for identification and proof of residential address.

Individuals

Permanent Account Number or Form No. 60 as defined in Income-tax Rules, 1962 (Please refer point 9(b)). Photograph needs to be submitted at the time of placing of fresh deposit/renewal, if not submitted earlier. Copy of any OVD (Officially Valid Document) containing details of his identity and address: List of OVD documents:

• a) Passport
• b) Driving License
• c) Voter’s Identity Card issued by Election Commission of India
• d) Job card issued by NREGA duly signed by an officer of the State Government
• e) Aadhaar Card in a form issued by the Unique Identification Authority of India
• f) Letter issued by the National Population Register containing details of name and address.

Where the OVD does not have updated address, the following additional documents can be obtained for the limited purpose of proof of address:

• a) Utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill).
• b) Property or Municipal Tax receipt
• c) Pension or family pension payment orders (PPOs) issued to retired employee's by Government Departments or Public Sector Undertakings, if they contain the address.
• d) Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation
• e) Documents issued by Government departments of foreign jurisdictions and letter issued by Foreign Embassy or Mission in India.

The depositor shall submit OVD with current address within a period of three months of submitting of additional documents specified above.

Non-Resident deposits:

Fixed Deposit from Non-Resident Indians (NRI) are accepted by funds received from Non Resident Ordinary (NRO) bank account on non-repatriation basis provided that the amount deposited with the company does not represent inward remittance or transfer from NRE/FCNR(B) accounts into the NRO account in accordance with the provisions of the Master Direction - Non-Banking Financial Companies Acceptance of Public Deposit (Reserve Bank) Directions, 2016.

Fixed Deposit from Non-Resident Indians (NRI) can be accepted for a maximum period of 3 years.

The Company does not accept deposit from foreign nationals except person of Indian origin.

The applicant has to submit all the documents and information as may be required by the company in relation to the deposit from Non-resident Indians in such form as may be prescribed by the company and Depositors are required to inform the company promptly whenever there is a change in the status/information already provided to the company.

Additional documents required for Non-Resident deposits [Please refer point no. 9(e)]

• a) Passport with valid Visa
• b) PIO Card (if it is a foreign passport)
• c) Tax Residency Certificate (TRC) to be provided annually from the Income Tax Department of the country of which the investor is resident to avail DTAA benefit.
• d) Overseas Employment letter (Optional for confirmation of residential status and overseas address)
• e) Address Proof (of Overseas and of India)
• f) Undertaking from investor regarding the stay in India during the respective financial year.
• g) DTAA declaration

FATCA-CRS instructions

NRI Depositors are required to mandatorily fill FATCA-CRS details. The company may be obliged to share information on the Depositor's account with the relevant authorities.

Company

• a) Certificate of incorporation.
• b) Memorandum and Articles of Association.
• c) A resolution from the Board of Directors and power of attorney granted to its Managers, Officers or employees to transact on its behalf.
• d) Permanent Account Number of the company.
• e) Proof of identity and address (as per KYC documents mentioned for individuals) of the beneficial owner, authorised signatory of the company as the case may be signing the application.

Partnership Firm

• a) Registration certificate
• b) Partnership deed
• c) Permanent Account Number of the partnership firm.
• d) Proof of identity and address (as per KYC documents mentioned for individuals) of the beneficial owner, authorised signatories as the case may be signing the application.

Hindu Undivided Family (HUF)

• a) HUF PAN Card
• b) Deed of declaration of HUF
• c) Proof of identity and address (as per KYC documents mentioned for individuals) of the Karta.

Trust and Foundations

• a) Registration certificate
• b) Trust deed
• c) Permanent Account Number or Form No. 60 as defined in Income-tax Rules, 1962 of the trust (Please refer point 9(b)).
• d) Proof of identity and address (as per KYC mentioned for individuals) of the beneficial owner, authorised signatory of the trust/institution as the case may be signing the application.

Unincorporated Association or Body of individuals

• a) Resolution of the managing body of such Association or Body of Individuals.
• b) Power of attorney granted to transact on its behalf.
• c) Permanent Account Number or Form No. 60 as defined in Income-tax Rules, 1962 of the unincorporated association or a body of individuals (Please refer point 9(b )).
• d) Proof of identity and address (as per KYC documents mentioned for individuals) of beneficial owner, authorised signatory as the case may be holding the power of attorney to transact the business on behalf of the Unincorporated association or Body of Individual.
• e) Such information as may be required to collectively establish the legal existence of such an association or body of individuals

Juridical persons not covered above (societies, universities and local bodies like village panchayats)

• a) Document showing name of the person authorised to act on behalf of the entity;
• b) Proof of identity and address (as per KYC documents mentioned for individuals) of the person who is holding the power of attorney to transact on its behalf.
• c) Permanent Account Number
• d) Such information as may be required to collectively establish the legal existence of such an entity/juridical person.

Central KYC Registry

Company accepts cumulative and non-cumulative deposits for different tenures as mentioned on the first page of the application form. Where the Scheme or Tenure is not indicated / opted in the Application form or multiple selection made, the deposit will be treated as placed in Cumulative Deposit Scheme for 36 months. In case customer opts for Non-Cumulative deposit option but the interest payout frequency is not indicated or multiple selection is made in the application form, the deposit will be treated as placed in monthly payout frequency scheme.

Hindu Undiviede Family (HUF) Deposits

Deposits of HUF will be accepted subject to production of necessary documents as required by the Company.

Joint Deposits

• a) Deposits may be made in the joint names of two/three persons under “First or Survivor/s (F or S/s)” or “Anyone or Survivor/s (A or S/s)”. All communications will be addressed to the first depositor. All interest payment and repayment of deposits will be made in the name of first depositor.
• b) Deposits pertaining to Non-individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family cannot be held jointly.

Nomination

• a) The depositor and/or the depositors, where deposits are made by more than one person jointly may, at any time, nominate a person to whom his/their deposit in the Company shall vest in the event of his or all the joint holders’ death. Notwithstanding anything contained in any other law for the time being in force or in any disposition, whether testamentary or otherwise in respect of such other deposit in the Company where a nomination made in the prescribed manner purports to confer on any person the right to vest in the deposit, the nominee shall, on the death of the depositor(s) become entitled to all the rights in the deposit in the Company to the exclusion of all other persons unless the nomination is varied or cancelled in the prescribed manner.
• b) Nomination can be made only by individuals. Non - individuals including society, trust, body corporate, partnership firm, karta of HUF, holder of Power of attorney cannot nominate.
• c) The nominee shall not be a trust, society, body corporate, partnership firm, Karta of Hindu Undivided Family or a Power of Attorney holder.
• d) A minor can be a nominee represented by his natural/court appointed guardian.

Income-Tax Provisions

• a) TDS Deduction:As required under the Income Tax Act, 1961, tax at applicable rate will be deducted at source from the amount of interest paid and/or credited to a depositor if the gross interest exceeds the prescribed limit during the financial year under specific customer ID. For exemption of TDS, First applicant, must submit to the company Tax declaration form (Form 15G/H/order U/s 10/Order U/s 197 – as the case may be). TDS will be deducted at twice the rate inforce if the depositor is a specified person under section 206AB of the Income Tax Act 1961.
• b) Furnishing PAN:if a Non-assessee depositor requires any exemption from tax deduction at source on interest payments a valid declaration in Form 15G/15H, or any other form as may be prescribed under the Income Tax Act 1961 needs to be submitted. The depositors are presumed to be aware of the penal provisions of the said Act with respect to false declaration and the Company will in no way be responsible for such false declaration made by the depositor. PAN is mandatory where the deposit amount is equal or more than Rs.50,000/- or aggregating all deposits (Fixed deposit (FD) and Recurring deposit (RD)) is equal or more than Rs.500,000/- or the interest is crossing the prescribed limit.
• c) Form 15G/15H:A new form 15G/15H has to be submitted again when any additional deposit is made or when an existing deposit is renewed, even though the Depositors may have already furnished the forms for the current financial year.
• d) TDS Certificates:In accordance with the CBDT Circular 03/2011 dated 13/05/2011 TDS Certificates in Form No. 16A will be downloaded by the Company from TIN Website and the same will be authenticated by means of digital signature (Circular under Section 119 of the Income Tax Act 1961). TDS certificates will not be generated from TIN Website if PAN is not furnished. While filling up the address of the applicant in the Deposit Application Form, please be informed that if the address as provided by you is the same address as the one updated with NSDL at the time of PAN application then the TDS certificate would be dispatched to that address. However, if both the addresses are different, then the TDS certificates would be printed with the address as updated with NSDL at the time of PAN application and would be sent by the company at the said address. If there is any change of address please update your address with NSDL by filling up the form for amendments/changes in PAN data and please intimate the said changes to the company also.
• e) TDS with respect to Non-Resident deposits:
  • a) The limit of Rs.5,000/- on FD interest for purposes of Tax will not be applicable.
  • b) Declaration u/s 197 in Form 15G/15H for non deduction of Tax will not be applicable. However, a lower deduction Certificate obtained from the income tax Department, can be furnished for claiming Nil or lower rate of Tax.
  • c) Tax rate will be as per the provisions of Section 195 of the Income Tax Act, 1961.
  • d) If Double Tax Avoidance Agreement (DTAA) exists with the country of which the investor is resident, then the applicable Tax rate will be lower of DTAA rate or income tax rate. However to claim the benefit of DTAA rate, the Tax Residency Certificate will have to be furnished. In the event of non-furnishing of the Tax Residency Certificate, the higher Tax rate as per the income Tax Act will apply. Further, to claim the lower rate as per DTAA, Indian PAN will also be required otherwise, the Tax rate will be as per the provisions of Section 195 of the Income Tax Act, 1961.

Deposit Certificate

Deposit certificate will be sent to branch for hand delivery or dispatched by speed post/courier at the given correspondence / communication address in the application form and the Company shall not be held responsible for any loss or delay in transit. If the deposit receipt is not received by the Depositor(s) for any reason, the Depositor(s) should write to the company for enquiry. In the event of the loss of deposit Receipt the Company may at its discretion issue a duplicate receipt, upon receiving an indemnity bond and other required documents from the depositor (s) in the form prescribed by the company. All expenses in this connection will be borne by the Depositor(s).

Renewals

• a) Deposits can be renewed from the date of maturity only if renewal instructions along with deposit receipts are received within 6 months from the date of maturity. In such cases the rate prevailing on the date of maturity will be applicable. Otherwise the same will be renewed prospectively and in such cases interest ceases on maturity.
• b) Renewal of deposit will be for an amount net of TDS, if any.
• c) If the depositor opts for auto renewal then the deposit shall continue to be auto renewed on maturity as per the instructions specified in the application form till such time instructions to the contrary are received at Service centre. In such cases the depositor need not submit the original certificate for renewal.
• d) The Depositor would have the option of changing the mode from auto renewal to auto refund and vice versa by giving necessary instructions at least 15 days prior to maturity. If the Depositor makes multiple or no selection between auto renewal and auto refund then company will by default consider the deposit for auto renewal. In case if Depositor makes multiple or no selection within renewal for principal and renewal for principal with interest then company will by default consider and renew the deposit for principal with interest.
• e) Cumulative deposits can be renewed for maturity value.
• f) A deposit can be renewed for a lower multiple of Rs.1,000/- by giving suitable instructions for repayment of balance amount.
• g) A deposit can also be renewed for a higher multiple of Rs.1,000/- by giving the differential amount. Such consolidations can be done only on the date of maturity and therefore, the necessary remittance should reach the company at least one day before the date of maturity.
• h) In the case of A or S/s accounts, renewals retaining one of the depositor(s) as the first depositor are possible. However, renewals to persons other than the second / third depositors in A or S/s accounts are not possible. Renewal of deposits by a change in the first named depositor is not possible in the case of F or S/s accounts.
• i) For Minor investments, if the Depositor has opted for auto renewal and the Guardian PAN has been submitted during investment and if the Minor has become Major during contract period or during the auto renewal process, then it is the responsibility of the Minor who has become Major and the Guardian who has signed the original application to submit the PAN of the Minor who has become Major.
• j) In case of auto renewals, the Depositor has to submit the Tax declaration form (Form 15G/15H as applicable) to the service centre within 15 days of fixed deposit issuance, failing which all the investments (RD and FD) in the specific customer ID will be treated as Taxable and appropriate TDS amount will be deducted and remitted to Income Tax Department, GOI.

Loan On Deposits

• a) The Company may grant at its sole discretion, loan up to 75% of the amount of deposit to the depositor after the expiry of three months from the date of deposit at rate of interest two percent points above the interest rate payable on the deposit. The relative term deposit receipt(s) and other documents have to be signed by both/all the depositors in case of A or S/s accounts and by the first depositor in case of F or S/s accounts, Cheque for loans will be drawn only in favour of the first depositor.
• b) Renewal of deposit with loan outstanding is not permissible. Payment after adjustment of loan principal and loan interest will be made on maturity, if renewal instructions for the balance amount are not received at least 15 days in advance of the maturity.

Repayments

• a) If the Deposit Receipt is held in physical form, then receipt duly discharged on a revenue stamp of one rupee must be surrendered to the Company for repayment. In the case of deposit with “F or S/s” clause, the discharge has to be made by the first named depositor only. However, in the case of deposit with “A or S/s” clause, any one of the depositor may give the discharge.
• b) If the depositor has opted for auto refund, then the physical certificate need not be submitted for repayment.
• c) The Company shall intimate the details of maturity of the deposit to the depositor at least two months before the date of maturity of the deposit.
• d) Interest will cease on the maturity date of deposit, if the deposit is not renewed within six months from the date of maturity, or if the deposit is withdrawn after the maturity date.
• e) Repayment of deposits will be made only by National Electronic Fund Transfer (NEFT).

Premature Repayments

• a) The company reserves the right to allow, at its absolute discretion, withdrawal of Fixed deposit before maturity. Where a deposit is so allowed to be prematurely withdrawn the relative deposit receipt must be discharged by all the depositors in case of A or S/s deposit and by the first named depositor in case of F or S/s deposit.
• b) As per the Directions of Reserve Bank of India currently in force:

Premature repayment: