RECURRING DEPOSIT CONFIRMATION

Deposit Account Number: 50400260896146

SAMIR GOPE Cust ID of 1st Applicant: 173134977
284 NETAJINAGAR PASHCHIMANGSH Deposit Branch Name: SHANKAR CHOWMANI
GRAM KRISHNAPUR PO NETAJINAGAR Deposit Type: RECURRING DEPOSIT
DIST KHOWAI NEAR TELIAMURA
MOTORSTA PAN No: ANKPG5332Q
AGARTALA-799205
INDIA

Deposit Installment Deposit Period Rate of Deposit Maturity +

Amount( In Rs.) Amount( In Rs.) Start Date of Deposit(in Months) Interest(%p.a.) Maturity Date Amount (in Rs.)
20391.00 2000.00 18 Dec 2021 27 Month(s) 5.15 18 Mar 2024 57352.00

Deposit Amount (in words) : TWENTY THOUSAND THREE HUNDRED NINETY ONE ONLY Thank you for banking with us.
Mode of operations : Single This is a system generated Advice, hence does not require any Signature.
Nomination : KALYANI GHOSH GOPE
Interest Payment Frequency : ON MATURITY
Maturity Instruction : REDEEM TO 50100435984927
For more information log on to : www.hdfcbank.com

Terms & Conditions

Payment of interest • In the event of death of one of the joint account holders, the right to the deposit proceeds does
not automatically devolve on the surviving joint deposit account holder, unless there is a
• Interest on a Recurring Deposit will be calculated from the date the instalment is paid survivorship clause.

• The method of calculation of interest on RDs will be on Actual / Actual Quarterly • In case of joint deposits with a survivorship clause, the Bank shall be discharged by paying the
Compounding. Bank computes interest based on the actual number of days in a year. In case, Deposit proceeds prematurely to survivor/s, on request, in the event of oneor more Joint
deposit is spread over a leap or a non-leap year, interest is calculated based on the number of Depositor
days i.e. 366 days in a leap year & 365 days in a non- leap year.

• The interest for Recurring Deposits will be corresponding rate as applicable for a Fixed Deposit. • In case joint holder mandate submitted to the bank, any of the holders can sign where mode of
operation is either or survivor / former or survivor.
• Interest on the deposits is compounded at quarterly intervals, at the applicable rates.
• Partial withdrawal/ sweep in / OD not allowed on Recurring deposits
• Interest payment on Recurring deposit is only on maturity.
• All premature encashment will be governed by rules of Reserve Bank of India prevalent at the
Resident-Lock in period time of encashment.

• The Recurring Deposits account has a minimum lock in of one month. • As per Income Tax laws, if the aggregate amount of the deposit/(s) held by a person with the
branch either in his own name or jointly with any person on the date of repayment together with
• In case of premature closure within a month, no interest shall be paid out & only principal the interest at payable is equal to or exceeds 20,000/- then the amount will be paid by bank draft
amount shall be returned. drawn in the name of the deposit holder or by crediting the savings/ current account of the deposit
holder.
NRI-Lock in period
• Effective 01st Dec'06, the interest rate applicable for premature closure of deposits (all
• The minimum lock in period for NRE RD is one year and NRO RD is one month. amounts) will be lower of:
The original rate at which the deposit has been booked OR
• In case of premature closure within a year and NRO RD within a month, no interest will be paid The base rate applicable for the tenure for which the deposit has been in force with the Bank.
out to the depositor & only principal amount shall be returned.
• For deposits booked on or after 7th March’19 the base rate is the rate applicable to deposits of
Maturity less than Rs.2 Cr as on the date of booking the deposit. Prior to this the base rate is the rate
applicable to deposits of less than Rs.1 Cr as on the date of booking the deposit.
• The deposit shall be due for repayment & shall mature on completion of the contracted tenure
even if there are installments remaining to be paid. • In case of death of the primary holder of the Recurring deposits prior to the maturity date,
premature termination of the deposit would be allowed as per the terms of contract subject to
• The maturity amount mentioned on the Recurring Deposit confirmation advice is subject to necessary verifications and submission of proof of death of the depositor.
payment of all installments on time.
• Such premature withdrawals will not attract any penal charge.
• In case of any delay in payment of scheduled installments, the maturity amount shall change
due to delay in payments . Insurance Cover for Deposits

• Maturity amount mentioned on the confirmation advice shall also change in case of TDS • The deposits in the Bank are insured with DICGC for an amount of Rs 5 lakhs (principal +
recovery . interest) per depositor.

Tax Deduction at Source (TDS)

Payment of Installment
• Interest paid on resident recurring Deposit would be liable to TDS (Tax Deducted at Source)
• The Installment amount once fixed will not be allowed to be altered at a later date. @10%, under section 194A similar to that of interest paid on FD. TDS applicable on interest paid
on NRO RD would be @ 30% plus applicable surcharge (Not Applicable for NRE RD).
• In case of more than one installment is being overdue at the time of payment, the paid
installment if sufficient to cover only one. installment will be appropriate towards first/earliest • TDS rates will be as applicable from time to time as per the Income Tax Act, 1961 and Income
installment overdue. Tax rules. The current rates applicable for TDS would be displayed by the Bank on Its website.
Currently, TDS is deducted when interest payable or reinvested on FD AND RD per customer,
• Partial payment of installment will not be permitted. across all Branch, exceeds Rs 40,000/- (Rs. 50,000/- for senior citizen) in a Financial Year.
Further, TDS is deducted at the end of the financial year on Interest accruals if applicable.
• HDFC bank shall not be responsible for informing the depositor to maintain adequate balance in
his/her HDFC bank account in recurring deposit to pay his/her installments in the event of failure • If interest amount is not sufficient to recover the TDS amount the same may get recovered from
of the standing instruction due to shortfall of funds in the transacting amount. the principal amount of Fixed Deposit. If customer wishes to have TDS deduction from CASA,
same can be availed by filling separate declaration at branch.
Overdue Installments
• As Per Section 139A(5A) of the Income Tax Act, every person receiving any sum of income or
• If frequent defaults (non-payments) are observed in the monthly installments and six amount from which tax has been deducted under the provisions of the Income Tax Act shall
installments fall in arrears, the bank reserves the right to close the RD account. The interest rate provide his PAN number to the person responsible for deducting such tax. In case your PAN is
applicable on such closed accounts will be as per the premature withdrawal policy of the bank. not updated with the Bank or is incorrect; please visit your nearest HDFC Bank branch to submit
your PAN details.
Premature withdrawal
• In case the PAN number is not provided to the Bank as required, the bank shall not be liable for
• In the case of premature encashment, all signatories to the deposit must sign the encashment the non availment of the credit of Tax deducted at Source and non-issuance of TDS certificate.
instruction.
• No deductions of Tax shall be made from the taxable interest in the case of an individual resident in
India, if such individual furnishes to the Bank, a declaration in writing in the prescribed Format (Form • In case if the RD is not booked as per the applicable T & C of the bank, Bank reserves the right to
15G / Form 15H as applicable) to the effect that the tax on his estimated total income for the year in rebook the same with correct details.
which such interest income is to be included in computing his total income will be Nil. This is subject
to PAN availability on Bank records.
• Minimum installment is Rs. 1000. (in multiples of 100 thereafter) Maximum installment: 1.99 Cr.
• If aggregated value of all outstanding FDs/RDs booked in same customer id during the Financial
Year exceeds INR 5Lakhs limit (*) then PAN/Form 60 is mandatory. • Minimum tenure for resident and NRO RD is 6 months (and in multiples of 3 months thereafter)
upto a maximum of 10 years and minimum tenure for NRE RD is 1 year.
In absence of PAN/Form 60:
• Only Senior Citizens / Retired Personnel (60 years and above) who are Resident Indians are eligible
• (a) FD/RD will not be renewed on maturity and maturity proceeds will be credited to your linked for senior citizen rates. The senior citizen rates are applicable only for Resident deposits.
account or a Demand Draft will be sent to your mailing address as updated in Bank's records.
• The benefit of additional interest rate on deposits on account of being bank’s own staff or senior
• (b) Maturity instructions to convert RD proceeds to FD will not be acted upon and RD proceeds will citizens shall not be applicable to NRE / NRO Deposits.
be credited to your linked account on maturity.
• Form 15G/H is not applicable to NRIs
• The maximum interest not charged to tax during the financial year where form 15 G/H is
submitted is as below: • Please Ignore this advice if you have redeemed this deposit on or after the maturity date as
mentioned herein.
• Upto 2,50,000/- for residents of India below the age of 60 years or a person (not being a company or
firm). • Any changes made online in respect to change in maturity instruction / tenure, details can be viewed
online itself post the changes
• Upto 5,00,000/- for senior citizen residents of India who are between the age of 60-79 years at any
time during the FY • In case your recurring deposit is booked without nomination details, please visit the Branch to update
the same.
• Upto 5,00,000/- for senior citizen residents of India who is 80 years or more at any time during the
FY. • Please visit our website / nearest branch / contact Relationship Manager for further clarification.
• In case of Non-filer of income Tax return, TDS shall also be deducted at higher rate as provided by
• Form 15 G / H should be submitted by customer in Triplicate copy to the bank, for submitting one Section 206AB w.e.f 1-Jul-2021.
copy to Income Tax Department, one copy for use by Branch and the third copy to be returned to the • Income-tax provisions outlined in this document are updated as of the Finance Act, 2021.
customer with Branch seal as an acknowledgment copy.

• A fresh Form 15G / 15H needs to be submitted in each new Financial Year by the start of the
Financial Year. In case form 15G/H is submitted post interest payout/credit, waiver shall be effective
from the day next to the interest payout /credit immediately preceding the date of submission of form
15G/H.

• Form 15G / H needs to be submitted for every recurring Deposits booked with bank for Tax
exemption. .

• The bank shall not be liable for any consequences arising due to delay or non-submission of Form
15G/ Form 15H

• To enable us to serve you better kindly submit the Form No. 15G/15H latest by April 1st of the new
financial year.
Note: The above guidelines are subject to change as per Income Tax regulations / directives of
Finance Ministry Govt of India prevalent from time to time

Important Points:

• Please record change of maturity instructions with us well in advance to enable us serve you better.

Maturity Instructions: __________________________________________________________________________________

_______________________________________
Signature
For Office Use only:
Liquidation Instructions
Liquidation : On Maturity / Premature withdrawal
Credit Account No. : ____________________________
Issue Pay order favouring : ____________________________
Date of Liquidation : ____________________________