Scheme features & terms
This type of deposit is repayable on the basis of notice received from the depositing member.
Usually the notice period is not less than 30 days.
The notice period for repayment is noted in the deposit receipt issued to the member.
Repayment is effected immediately on expiry of the notice period, receiving back the deposit receipt with the member's acknowledgement of payment.
No advance is provided on the security of notice deposits.
Other outstanding liabilities of the member can, however, be adjusted against the deposit with advance intimation to the member.
Any amount can be received as a notice deposit, subject to a minimum of Rs 1,000/- in multiples of Rs 100/-.