Deposit Age Pdf For Free

RBI has made a lot of modifications to the rules of Fixed Deposit (FD) which state that: After the completion of maturity,if you do not claim the amount for any reason then you will get less interest on it. This interest is going to be equal to the interest received on the savings account.

As per section 2(31) and rule 'deposit' includes any receipt of money by way of deposit or loan or in any other form by a company, but following loan does not include in deposit as mentioned by the Reserve Bank of India: -any amount received from central or state government directly or indirectly.

Senior Citizen FD Interest Rates Bank NameUp to 5 yearsAbove 5 yearsLakshmi Vilas Bank2.50% to 7.00%6.75%Yes Bank3.75% to 8.25%7.75%Deutsche Bank3.00% to 7.75%-Karur Vysya Bank6.65% to 7.70%6.65%7 more rows

1) On and form the commencement of these rules, no company shall accept, or renew any deposit, unless an application is made by the intending depositor for the acceptance of such deposit and such application contains a declaration by such person to the effect that the amount is not being deposited out of the funds ...

(3) If, immediately before the commencement of these Rules, the aggregate amount of deposits, of the nature referred to in clause (i) of sub-rule (2), accepted by a company before such commencement, exceeds the limit specified in the said clause (i), the company shall, on or before, the 31st day of March 1978 bring ...

Ing to Section 73(1) no company is allowed to accept, invite or renew deposits under the Companies Act from the public except in a manner provided under Chapter V. Additionally, there are some exceptions, where Section 73(1) prohibition does not apply.

Every proposing depositor intending to accept the deposit invitation issued by a company should submit an application to the company in the form prescribed by the company. The depositor must also submit a declaration that the deposit is not being made from money borrowed by the company.