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.

It is mandatory for the Company to deduct Tax at Source if the estimated annual interest paid /credited on the Deposit exceeds Rs.5,000/- during the financial year. However, those Depositors who are not assessed to Income Tax may furnish a self-declaration in Form 15G or 15H (for Senior Citizens) so that tax is not deducted […]

Form 15G and Form 15H (for Senior Citizens) are self- declarations given by those Depositors who are not assessed to Income Tax. Should the Depositor not be able to sign the Form their left-hand thumb impression will suffice. The left hand thumb impression must be attested by a Gazetted Officer or Bank Official.

Declaration in Form 15G can be made by an Individual or a person (not a Company or Partnership / Proprietorship Firm). A Company or Firm cannot submit declaration in Form 15G or Form 15H. Form 15G is for Resident Individuals below 60 years of age. Form 15H is for Resident Individuals who are Senior Citizens […]

For the Tax deducted at source, Tax deduction certificates in the prescribed form 16A, giving details of the interest remitted to Income Tax Department will be sent on a quarterly basis if the interest on the deposit is paid quarterly. For the Tax deducted at source (TDS) certificate Form 16A will be generated by the […]

Deposit Application Forms are available at all our Branches or can be downloaded from our website.(Certificate copy can be provided on request)