DEPOSIT CONFIRMATION/RENEWAL ADVICE

Type of Deposit Resident

Deposit Account Number 50300409609731

Name and Holding pattern SHYAM MOHAN KATARA(Joint Or First)

LAXMI KATARA(Joint Or Other)

Currency INDIAN RUPEES

Mode of Operation FD Booked Through Net

Current* Principal Amount Deposit Start Date Period of Deposit Rate of Interest(%p.a.) Deposit Maturity Date Current* Maturity Amount
100000.00 10 mar 2020 12 months 0 days 6.80 10 Mar 2021 106960.00

Maturity Instructions : Renew Principal + Interest Thank you for banking with us.
Lien Amount : 0.00 This is a system generated Advice, hence does not require any Signature.
Nomination : Registered

IMPORTANT - "As per section 206AAintroduced by finance (No.2) Act, 2009 wef01.4.2010, every person who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall be deducted at the rate of 20%
(as against 10%which is existing TDS rate)in case of domestic deposits and 30.09% in case of NRO deposits". Please further note that in the absence of PAN as per CBDT circular no: 03/11, TDS certificate will not be issued . Form 15G/H and
other exemption certificates will be invalid even if submitted and Penal TDS will be applicable.
Terms & Conditions (T&C)
Bank computes interest based on the actual number of days’ in a year. In case, the deposit is spread over a leap or a • For deposits <5cr the base rate applicable will be of <2Cr as on date of booking. For 5Cr and &above deposits, the
non-leap year, the interest is calculated based on the number of days .i.e. 366 days in a leap year & 365 days in a base rate is the rate applicable for 5Cr deposits.
non-leap year. • As per the bank’s T&C, penalty on premature closure of deposit/(s) including sweep-in and partial closures has been
Tax Deduction at Source (TDS) fixed at the rate of 1%. However premature penalty will not be applicable for FDs booked for a tenor of 714 days and also
• TDS rate is applicable from time to time as per the IT Act, 1961 and IT rules.The current rates applicable for TDS for deposits >= 25 cr (single fixed deposit booked post sept 2017). There will be "No" penalty on premature withdrawal
would be displayed on Bank’s website.Today, TDS is recovered when interest payable or reinvested on FD & RD per of all new FD's booked under the new rate slabs i.e. >=5.25 Cr to <5.50 Cr and >=24.75 Cr to <25 Cr w.e.f August 29,
customer, across all Branch, exceeds Rs 40,000/- (Rs. 50,000/- for senior citizen) in a Financial Year. Further, TDS is 2018.
recovered at the end of the financial year on Interest accruals if applicable. • In case of death of primary holder of the deposit prior to maturity date, premature termination of the deposit would be
• If interest amount is insufficient to recover TDS, the same may get recovered from the principal amount of Fixed allowed as per the terms of contract subject to necessary verifications and submission of proof of death of the depositor.
Deposit.If customer wishes to have TDS recovered from CASA, same can be availed by filling separate declaration at Such premature withdrawals will not attract any penal charge.
branch. Insurance Cover for Deposits All Bank deposits are covered under the insurance scheme offered by Deposit Insurance
• For renewed deposits, the new deposit amount consists of the original deposit amount plus Interest Less TDS, if any, and Credit Guarantee Corporation of India (DICGC) subject to a maximum limit of Rs. 1lac per customer (conditions
less compounding effect on TDS. For reinvestment deposit, the interest reinvested is post TDS recovery and "hence the apply).
maturity amount for reinvestment deposits would vary to the extent of tax and compounding effect on tax for the period Non Withdrawable Fixed Deposits (Applicable for Resident and non resident)
subsequent of deduction till maturity. • The Deposits cannot be closed by the depositor before expiry of the tenure. However, the Bank may allow premature
• As Per Section 139A(5A) of IT Act, every person receiving any sum of income or amount from which tax has been withdrawal
deducted under the provisions of IT Act shall provide his PAN to the person responsible for deducting such tax. In case • In the event of premature withdrawal of these deposits under above mentioned exceptional circumstances, the Bank
PAN is not provided as required, the bank shall not be liable for the non availment of the credit of Tax deducted at Source will not pay any interest on the principal amount of the deposit. Any interest credited or paid upto the date of such
and non-issuance of TDS certificate. premature closure will be recovered from the deposit.
• If your PAN is not updated with the Bank or is incorrect; please visit your nearest branch to submit your PAN details. • Sweep-in facility is not allowed.
• No deductions of Tax shall be made from the taxable interest in the case of an individual resident in India, if such • The minimum tenor for resident deposits is 91 days and 1 Year for NRE deposits.
individual furnishes to the Bank, a declaration in writing in the prescribed Format (Form 15G / Form 15H as applicable) • The deposit will be booked with maturity instruction as ‘Do Not Renew’.
to the effect that the tax on his estimated total income for the year in which such interest income is to be included in • The Non Withdrawable Deposit is offered for amount 5 crore and above only.
computing his total income will be Nil. This is subject to PAN availability on Bank records. • Only first party FD OD is provided with 90% limit. Third party FD OD is not allowed.
• If aggregated value of all outstanding FDs/RDs booked in same customer id during the Financial Year exceeds INR Important Points
5Lakhs limit (*) then PAN/Form 60 is mandatory. • Senior Citizens (60 years and above) who are Resident Indians are eligible for senior citizen rates for deposits upto 5cr
In absence of PAN/Form 60: (a)• FD/RD will not be renewed on maturity and maturity proceeds will be credited to • Benefit of additional interest rate on deposits on account of being bank’s own staff or senior citizens shall not be
your linked account or a Demand Draft will be sent to your mailing address as updated in Bank's records. (b) Maturity applicable to NRE and NRO Deposits.
instructions to convert RD proceeds to FD will not be acted upon and RD proceeds will be credited to your linked account • Please quote the Deposit Account Number in all Communication
on maturity. • Please record change of maturity instructions with us well in advance to enable us serve you better.
The maximum interest not charged to tax during the financial year where form 15 G/H is submitted is as below: Any changes made online in respect to change in maturity instruction / tenure, details can be viewed online post the
• Upto 2, 50,000/- for residents of India below the age of 60 years or a person (not being a company or firm). changes.
• Upto 5,00,000/- for senior citizen residents of India between the age of 60-79 years at any time during the FY • Please Ignore this advice If you have redeemed or renewed this deposit on or after the maturity date as mentioned
• Upto 5,00,000/- for senior citizen residents of India who are 80 years or more at any time during the FY. herein. In case of
• Form 15G/ H to be submitted by customer in triplicate to the bank, for submitting one copy to IT Department, one • Renewals you will receive a new Fixed Deposit Confirmation / renewal advice.
copy for Bank record and third copy to be returned to customer with Branch seal as an acknowledgment. A fresh Form • Rate applicable on monthly interest option will be discounted rate over the standard FD Rate.
15G /H needs to be submitted at the start of every new Financial Year. In case form 15G/H is submitted post interest • In case of more than one deposit linked for Sweep-In, the system will first Sweep-In funds from the last or recently
payout/credit, waiver shall be effective from the day next to the interest payout /credit immediately preceding the date of opened deposit,i.e. on LIFO(Last-In-First-Out) basis.
submission of form 15G/H. • In case your fixed deposit is booked without nomination details, please visit the Branch to update the same.
• Form 15G/H needs to be submitted for every fixed Deposits booked with bank for Tax exemption. • In case of NRO / Resident FD, no interest will be paid if the deposit is prematurely withdrawn before completion of 7
• The bank shall not be liable for any consequences arising due to delay or non-submission of Form 15G/H days.
• To enable us to serve you better kindly submit the Form 15G/H latest by April 1st of the new financial year • In case of NRE FD interest will not be paid if the deposit is prematurely withdrawn before completion of 1 year.
Note: The above guidelines are subject to change as per Income Tax regulations /directives of Finance Ministry Govt of • Form 15G/H is not applicable to NRIs
India prevalent from time to time. • TDS is not applicable for Interest earned on NRE deposits
Automatic Renewal We will be happy to renew your deposit, unless we hear from you to the contrary, for the same • No penalty shall be levied for premature withdrawal of NRE term deposits.
period as the original deposit, at the prevailing rate of interest. You can change the deposit instruction within 7 days. • Fixed Deposits booked with monthly or quarterly interest payout option, TDS recovery will by default happen from
Premature Encashment linked current / savings account. Please visit nearest branch / contact RM for further clarification.
• In the event of death of one of the joint account holders, the right to the deposit proceeds does not automatically • When you open a Fixed deposit with the Bank Interest on Term Deposit is calculated as below:
devolve on the surviving joint deposit account holder, unless there is a survivorship clause. o On a Quarterly basis for deposits > 6 months. Simple interest is paid at maturity for deposits <= 6 months.
• In case of joint fixed deposits with a survivorship clause, the Bank shall be discharged by paying the Fixed o Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the principal such that Interest
Deposit proceeds prematurely to survivor/s, on request, in the event of one or more Joint Depositor. is paid on the Interest earned in the previous quarter as well.
• In the case of premature encashment, all signatories to the deposit must sign the encashment instruction o In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate
• All premature encashment will be governed by rules of Reserve Bank of India Prevalent at the time of encashment over the Standard FD Rate.
• In case of mandate submission any of the holders can sign where mode of operation is either or survivor / former or If FD is not booked / renewed as per applicable T &, Bank reserves the right to rebook the same with correct details.
survivor.
• As per IT laws, if aggregate amount of the deposit/(s) held by a person with a branch either in his own name or jointly
with any person on the date of repayment together with the interest at payable is equal to or exceeds 20,000/- then the
amount will be paid by bank draft drawn in the name of the deposit holder or by crediting the savings / current account of
the deposit holder.
• Partial Premature withdrawal and sweep-in facility is not allowed for fixed deposits with amount>=5 cr to <25 cr.
• On sweep in/partial withdrawal of FD>= 25cr, if the amount of deposit falls below 5cr, the entire FD will be
withdrawn
• The interest rate applicable for premature closure of deposits (all amounts) will be lower of: The rate of Original
/contracted tenure for which the deposit has been booked OR base rate applicable for the tenure for which deposit has
been in force with the Bank.
Maturity Instructions:
_______________________________________
Signature(s)
For Office Use only:
Liquidation Instructions
Liquidation : On Maturity / Premature withdrawal
Credit Account No. : ____________________________
Issue Pay order favouring : ____________________________
Date of Liquidation : ____________________________