For the Corporate FDs, the clients can withdraw the amount before the maturity, however the below-mentioned guidelines need to be followed while placing a pre-mature withdrawal request:
(i) No premature withdrawal will be allowed before the completion of three months from the date of receipt as per the directions of the Reserve Bank of India currently in force (Exceptions only for death and medical emergency cases).
In case of a request for premature withdrawal after the expiry of three months the rate given in the table below shall apply.
However, all premature withdrawals are subject to the prevailing guidelines of the Reserve Bank of India as amended from time to time.
(ii) Request for premature withdrawal may be permitted with specific reason at the sole discretion of the respective provider only and can not be claimed as a matter of right by the depositor, subject to the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.
(iii) Request for pre-mature withdrawal should be signed by all the deposit holders.
(iv) Premature closure request should be received 30 days prior to the maturity date, in physical form/scanned copies to the designated for processing.
For processing the pre-mature withdrawal of corporate FDs the following documents are required:
1. Request letter (enclosed)
2. FD receipt
3. Self-attested PAN card copy
4. Self-attested valid bank account proof(canceled cheque copy or a bank passbook copy or a bank account statement copy) where the account number, account holder's name, and the IFSC code are present.
The client needs to email the scanned copies of the above-mentioned documents to operations@assetplus.io
However, Mahindra FD, the client needs to send the physical copies to the below-mentioned address as well.
Valueplus Technologies Pvt. Ltd.
Atworks Guindy
39, N Parade Rd,
Chakrapani Colony,
St.Thomas Mount,
Chennai
Tamil Nadu - 600016
For Bajaj FD, the client needs to install the Bajaj 3 in 1 app-> Log-in via OTP using the mobile number registered with Bajaj -> go to investment-> fixed deposit-> the FD orders are reflected-> click on the order for which the pre-mature withdrawal to be done and click on Premature withdrawal (or) the client can reach out to the nearest BAJAJ Branch directly for initiating the premature withdrawal with the request letter and self-attested PAN, Aadhar and Bajaj FDR.
The Turn Around Time (TAT) for processing and the amount credited to the client's account is 4-5 working days.