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(AOF) Maturity Instructions Form-21102020

The document is a Maturity Instructions Form for Term Deposit Accounts, allowing account holders to specify their preferences for fund management upon maturity. Options include auto-renewal of the deposit or withdrawal of funds to a specified account or through a demand draft. It also outlines the conditions under which auto-renewal will continue and the implications of not providing written instructions for renewal or non-renewal.

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35 views1 page

(AOF) Maturity Instructions Form-21102020

The document is a Maturity Instructions Form for Term Deposit Accounts, allowing account holders to specify their preferences for fund management upon maturity. Options include auto-renewal of the deposit or withdrawal of funds to a specified account or through a demand draft. It also outlines the conditions under which auto-renewal will continue and the implications of not providing written instructions for renewal or non-renewal.

Uploaded by

writetoburhan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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FORM-1.

Term Deposit Account Annexure-1


Maturity Instructions Form/ Amendment Form
Tick (i) or (ii), as applicable
i). Maturity Instructions (in case no previous maturity instructions have been given)
ii). Amendment in Maturity Instructions (in case modification is desired in already given maturity
Instructions)

At Maturity I/We wish to (please tick and fill in the details in the applicable option mentioned below):
1. Auto-renewal
Reinvest all funds for ………………….. (Specify tenure) as per the auto renewal policy of the bank.
2. Don’t Auto Renew
Withdraw all funds and close my Account and transfer my funds to my/our account no
…………………………………………………………………………..(specify complete number) in the name of
………………………………………………………………………………………………………………………..
(Specify full name and particulars. In case of Joint accounts, specify details of all account
holders) at ……………………………………………………………….. Branch of J&K Bank / ………………………………
Bank (Specify other Bank’s name).
Or
Close the account and Issue a Demand Draft/ Pay Order in my/ our favour
Ist Account Holder 2 nd Account Holder
Signature ………………………………………… …………………………………………………………

Name ………………………………………….. …………………………………………………………

Address ……………………………………… ……………………………………….…………….

Contact No ……………………………… ……………………………………………..

Existing Account No ………………….………….,…….. …………………………………………..

Dated ……………………………………………

Note: In case of auto-renewed term deposit where no subsequent written instructions are provided by the
depositor/s, the account shall continue to be renewed on the basis of initial mandate by customer till the total
tenure of all the successive renewals undertaken through auto-renewal is not more than 10 years. Subsequently,
the account shall be transferred to overdue head as per the policy on overdue deposits unless fresh mandate is
provided by the account holder/s.
Further, in absence of written mandate for auto renewal, it shall be deemed that the customer has provided
mandate for the same unless the customer provides written instructions for non renewal of term deposit in Form I.
In such cases the term deposit shall be auto renewed as per Auto Renewal Policy of the Bank.

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