No. Premature payments will be effected favouring the first depositor only.

Yes. The payment can be sent directly to the Depositor’s designated bank account available in our records.

As per the Directions of RBI currently in force, premature repayment: 1. Up to 3 months from the date of deposit/renewal (Lock-in-period)@ No Repayment (Not applicable in case of premature repayment in the event of death of the depositor) 2. After 3 months but before 6 months@ No interest* 3. After 6 months but before […]

We accept deposits from NRIs on a non-repatriation basis. Deposits by NRIs are accepted only when the funds originate from their respective NRO Account. NRI depositors must also submit the following declaration: The amount deposited with Gove Finance Ltd. represents amount transferred from NRO account. Further this amount does not represent inward remittance from overseas […]

Yes. A deposit can be placed in the name of a Minor provided He / She is represented by His / Her Natural or Legal Guardian. The Deposits Application Form must be signed by the Natural/ Legal Guardian on behalf of the Minor. All communication in relation to the deposit shall be addressed to the […]

The limit of Rs.5,000/-on interest for the purpose of tax is not applicable. Tax rate will be 31.2% as per the current Income Tax rules (Effective 01/04/2018). Declaration in Form 15G/H for non-deduction of tax at source is not applicable. FATCA (Foreign Account Tax Compliance Act) form must be furnished by the NRI depositor. The […]

Yes, on receipt and verification of the Power of Attorney by the Company as to its validity in this context.

The Application Form together with the Term Deposit Receipt must be sent to us 15 days prior to the maturity of the Term Deposit Receipt bearing the Depositor’s signature on the reverse.

There will be no change. The Company will pay the contracted rate till the maturity of the Deposit Receipt as per the current rules.

An existing depositor can renew their deposit for either the Principal amount (interest accrued will be repaid) or alternatively the principal amount plus interest.