HUDCO : Register Public Deposit Scheme

Name of the Organisation : Housing and Urban Development Corporation Ltd
Type of Facility : How to Register Public Deposit Scheme
Company Web Page : http://www.hudco.org/
Location : Delhi

Principal Terms & Conditions Governing Public Deposit Scheme:

1. Deposit can be placed by Resident/Non Resident (on non-repatriable basis) Individuals, Minors through Guardians, Hindu Un-divided families (HUF), Trusts, Co-operative Societies, Domestic Companies & Others.

2. Deposits can be made in the joint names with maximum of three persons.Deposit in joint names shall be with or without any of the clause namely: a) either or survivor b) Number one or survivor(s) c) Anyone or survivor(s).

3. Interest and deposit amount will be paid by Crossed “Account Payee Cheque” payable AT PAR at all branches of designated bank(s) drawn in favour of first named depositor.

4. Premature withdrawals:
(i) Minimum lock in period – Three months
(ii) After three months but before six months – No interest

5. Provided that in the event of death of a depositor, the deposit may be paid pre-maturely to the surviving depositor/s in the case of joint holding with the survivor clause, or to legal heir/s with interest at the contracted rate (applicable) up to the date of repayment.

6. For the purpose of determining the period where the period for which the deposit had run contains any part of the year then, if such part is less than six months it shall be excluded and if such part is six months or more, it shall be reckoned as one year.

More details get here : http://www.hudco.org/Site/FormTemple…222&ParentID=0

Contact Us :
Housing and Urban Development Corporation Ltd.
HUDCO Bhawan, Core-7-A,
India Habitat Centre,
Lodhi Road,
New Delhi – 110 003