Sidbi Fixed Deposit Application Form (Page 4 of 8) in pdf

Renewal :

Automatic Renewal : The Deposit can be renewed ‘Automatically’, if specifically opted by the depositor at the time of placing the initial deposit. The deposit becomes

eligible for renewal on the maturity date (renewal date) on the same terms and conditions (same period as the original / previous deposit) at the interest rate prevailing on the

date of renewal at the discretion of SIDBI. The depositor has an option to change the terms of the deposit. However, such request has to be lodged with SIDBI, within 14

days prior to maturity

Normal Renewal : In case, the depositor has not availed the option for automatic renewal of FD, then the depositor could make a fresh request for renewal of FD within 14

days from the date of maturity, wherein the deposit would be renewed for a period as decided by the depositor at the then prevailing rate of interest and terms and

conditions with effect from the date of maturity.

However, if the depositor has not renewed the deposit within 14 days, then simple interest at savings bank rate / rate stipulated by SIDBI / RBI, shall be paid from maturity to

the date of payment. Applicable TDS shall also be deducted on such interest payment.

Premature Withdrawal : Premature withdrawal of Fixed Deposit before completion of 12 months from the date of deposit is permitted only due to death of the depositor,

medical exigencies, educational expenses and such other reasons acceptable to SIDBI. However, premature withdrawal is not permitted in non individual deposits prior to

completion of 12 months from the date of deposits.

The terms and conditions governing premature with drawal of Fixed Deposit is given under :

Premature Withdrawal

Rate of Interest

Before 6 months

No interest shall be paid

Between 6 months and 1 year

interest rate not exceeding Savings Bank Rate (for scheduled Commercial Banks) / Rate as specified by RBI

After 1 year

One percent less than the rate prevailing as on the Date of Deposit applicable for the period for which the deposit has run.

Brokerage

For deposits received through brokers, the Brokerage is paid upfront for the entire period of deposit to our authorized agent. In case of

premature withdrawal of such deposits the brokerage will be payable for the period completed and excess brokerage paid will be

recovered from the deposit amount.

Interest Recalculation

The interest shall be recalculated as indicated above. However TDS already deducted and paid shall not be recalculated.



Non cumulative / Periodic Interest Payment Option deposits :

The difference between the amount of interest already paid and the interest payable at the revised rate (as stipulated above) shall

be recovered from the original deposit amount of the fixed deposit and the balance amount shall be paid to the depositor



Cumulative option :

The maturity amount shall be recalculated on the revised rate of interest and the revised maturity value shall be paid

Premature withdrawal of the Fixed Deposit by the nominee(s) is not permitted

Loan against deposits : SIDBI shall not grant any loan against the deposit. However, the same can be accepted as collateral security, subject to furnishing of suitable

certificate to the satisfaction of SIDBI.

Others :

The Fixed deposit scheme of SIDBI is not covered under deposit guarantee / insurance

For the convenience of the depositors, SIDBI has appointed Agents, both individuals and Corporate entities, for collection of Application forms from Depositors. SIDBI

pays Brokerage to such Agents for the deposit received through them at prevailing rates of Brokerage. However, SIDBI will not be responsible for any act of omission

and commission on the part of Agents and Depositors are requested to satisfy themselves before entering into any transaction through a particular Agent. The agents

are not authorised to collect cash for placing deposits with SIDBI or issue deposit receipts on behalf of SIDBI.

SIDBI reserves the right to waive or vary any of the above terms and conditions and also to reject any application for a fresh deposit or for renewal without assigning

any reason. Acceptance, renewal and repayment of deposits would be governed by guidelines issued by RBI from time to time and subject to Mumbai Jurisdiction.

The interest warrants and repayment cheques would be encashable ‘At Par’ at the designated branches of such banks in India as may be decided by SIDBI from time

to time.

SIDBI Fixed Deposits are Non Transferable. In the event of loss, theft, destruction, mutilation or defacement of the SIDBI Fixed Deposit Receipt / Interest warrant, a

duplicate thereof will be issued by SIDBI upon being satisfied about the same and on furnishing Indemnity as may be deemed fit by SIDBI. Any communication may be

either sent to the Mumbai Office of SIDBI or may be submitted to any other nearest Branch Office of SIDBI.

All the communication viz. FD Receipt, interest / principal repayment warrant etc. will be sent by SIDBI at the risk of depositor and SIDBI will not be responsible for the

non delivery of the communication to the depositor. Depositor is liable to bear any expenditure involved in the issuance of any duplicate FD receipt or payment

warrants etc.

Notwithstanding what is stated herein above, when any reference or request is made by a depositor to SIDBI on any matter pertaining to SIDBI Fixed Deposit, the rules

prevailing on the day of reference or request shall be followed and shall be binding on the depositor.

General Instructions

The Application forms must be completed in Block Letters. SEPARATE APPLICATION FORM MUST BE USED FOR DEPOSITS UNDER DIFFERENT OPTIONS.

In case of deposit by Minors, the Application form should be signed by the Father / Natural guardian. The Guardian’s name & relationship with minor should be

specified in the Application form.

In case of Application by Hindu Undivided Family (HUF), the Application form shall be signed by the Karta of the HUF.

In case of Applications under Power of Attorney or by Limited Companies or Corporate bodies, Societies, Trusts and Association of Persons, a certified copy of the

Power of Attorney or the relevant authority, as the case may be, shall accompany the Application form and the Application form shall be signed by the attorney or the

authorized signatory(ies), as the case may be.

Signature(s) shall be in English or in any of the Indian languages. Thumb impressions shall be attested by an Authorised Official of a Bank or by a Magistrate / Notary

Public under his / her Official seal.

Application form, complete in all respects along with Cheque / Demand Draft favouring ‘SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA’ shall be submitted at

any of the SIDBI Offices. The Cheque / Demand Draft should be drawn on any Bank branch which is situated in the City where the Application is submitted. Outstation

Cheque / Money Orders / Postal Orders or Cash payments will not be accepted.

ACKNOWLEDGEMENT

(to be filled by applicant)

Received from Mr./Mrs./Ms.________________________Address_______________________________________________________________________

(to be filled by SIDBI official)

an application for fixed deposit under SIDBI Fixed Deposit Scheme for a period of ___ months under ____ interest option along with cheque / demand

draft / by UTR No_____________________ dated__________ for `________________ drawn on __________________________ or Term Deposit

Receipt no _______________ dated ______________ for `__________ (subject to realization of cheque / demand draft).

Date : _______________

Signature & Stamp of SIDBI