Hi Guys,
I have a recurring deposit with a Private Sector Bank in India. I filed for SINP on 18th May 2016 and as per SINP POF policy funds has to be maintained in my account starting 18th Feb 2016.
As per the bank statement of Feb2016 I have INR XXXX in my Recurring Deposit. This amount consists of paid instalments only. Interest will be paid out at the time of RD maturity only. Obviously by May2016 there have been 3 more instalments and the amount in the RD has increased.
Bank has issued me a balance confirmation certificate stating the amount I have in the Savings Balance account, Recurring Deposit and Fixed Deposits. This letter is issued on 18th July for as of date. However they have not mentioned that this amount is withdrawable any time. Do I need to get this statement included in the letter? Is there a need to get this mentioned for Recurring Deposit on the certificate? In other words is it required to prove that premature withdrawal is allowed in case of Recurring Deposit.
On the website of bank under their products section for Recurring Deposits they have mentioned that premature withdrawal is allowed. Can I write a LOE stating that premature withdrawal is allowed and copy the link where this information is mentioned. Please advice guys.
I have a recurring deposit with a Private Sector Bank in India. I filed for SINP on 18th May 2016 and as per SINP POF policy funds has to be maintained in my account starting 18th Feb 2016.
As per the bank statement of Feb2016 I have INR XXXX in my Recurring Deposit. This amount consists of paid instalments only. Interest will be paid out at the time of RD maturity only. Obviously by May2016 there have been 3 more instalments and the amount in the RD has increased.
Bank has issued me a balance confirmation certificate stating the amount I have in the Savings Balance account, Recurring Deposit and Fixed Deposits. This letter is issued on 18th July for as of date. However they have not mentioned that this amount is withdrawable any time. Do I need to get this statement included in the letter? Is there a need to get this mentioned for Recurring Deposit on the certificate? In other words is it required to prove that premature withdrawal is allowed in case of Recurring Deposit.
On the website of bank under their products section for Recurring Deposits they have mentioned that premature withdrawal is allowed. Can I write a LOE stating that premature withdrawal is allowed and copy the link where this information is mentioned. Please advice guys.
