Depositors who genuinely require funds at a particular point of time should have the right to foreclose.

Foreclosure of deposits should be governed by the following guidelines:

  • No foreclosure shall be allowed within 3 months of deposit;
  • No interest shall be allowed for foreclosure between three and six months of deposits. Only principal amount will be refunded.
  • The interest rate on such deposit will be 3% lower than the original interest rate.