Terms and Conditions for Pre-Mature withdrawal of Fixed Deposit:

By clicking the “Proceed” or similar button on the screen where these terms and conditions (“Terms”) are hyperlinked, I hereby agree and acknowledge that:

I. I am 18 years of age or older and I can understand, read and write English language;

II. I hereby apply for pre-mature withdrawal of my Fixed Deposit (“FD” ) booked with Bajaj Finance Limited (“BFL”).

III. The maturity proceeds will be credited ( after deduction of tax) in the same bank account mentioned in the FD Application form or such other bank account as intimated by the deposit holder(s) (jointly, if applicable), in writing, to BFL subsequently.

IV. Deposits may be withdrawn prior to the date of maturity subject to the regulations of the Reserve Bank of India in this regard. Please note that premature withdrawal of Deposit (including death cases) is subject to the following conditions:

a. Up to 3 (three) months from date of Deposit: Withdrawal of the Deposit is not permitted. However:

i. in the event of death of a depositor, the Company may repay the Deposit prematurely (irrespective of the lock in period) to the surviving depositor (which in the case of joint holders will be the first in the sequence of applicants in the Application) or to the nominee/ legal heir(s) of the deceased depositor, upon the request of surviving depositor/s/nominee/legal heir, as the case may be, and subject to submission of proof of death and other requisite documents to the satisfaction of the Company

ii. in case depositor wants premature withdrawal of his Deposit for expenses of emergent nature including on account of facing any medical emergency or expenses due to natural calamities or disaster, partial prematurity of the deposits is allowed upto lower of 50% of principal or Rs.5 lacs. Expenses of emergent nature are subject to verification/evaluation of case as per BFL policy.

iii. Premature withdrawal of Deposit Amount on account of suffering on account of Critical illness, 100% of principal amount of Deposit shall be paid to the depositor, without interest. For the purposes of this clause definition of ‘Critical illness’, shall be as per IRDAI (Health Insurance) Regulations, 2016 and the guidelines issued thereunder, as amended from time to time.

iv. Deposits aggregating not exceeding an amount of Rs.10,000/- of principal amount (“Tiny Deposit”) will be prematurely paid to individual depositor or first named Depositor holding the Deposit in the same capacity in all the Deposits, at the request of the depositor, without interest.

b. After 3 (three) months but before 6 (six) months from the date of the Deposit: Withdrawal of the Deposit will be permitted; however, interest shall not be payable.

c. After 6 (six) months but before the date of maturity of the Deposit: Withdrawal of the Deposit will be permitted. Interest shall be payable at a rate which is 2% lower than the rate specified for the period during which the deposit has been opened. In case no rate is specified for the Deposit period, interest rate payable shall be 3% lower than the lowest rate being offered by the Company.

V. In case customer requests for prematurity of FD during intervening period e.g. after 23 months but before 24 months, interest penalty will be calculated on rates as applicable for previous month’s slab.

VI. Income tax wherever applicable and deducted at source and remitted to the applicable tax authority by the Company on behalf of the depositor, before premature withdrawal of Deposit(s), shall not be refunded in any circumstance whatsoever.

VII. Payment Made by BFL pursuant to pre-mature withdrawal request would discharge BFL from the liability with respect to the said fixed deposits to the extent of liquidation made to me and I will have no rights or claims against BFL with respect to such pre-mature withdrawal of the said fixed deposit.

VIII. I have read and understood the terms and conditions and I am aware that the penalty/ the fees and charges applicable on the pre-mature withdrawal of deposit are as per extant RBI regulations.