DEPOSIT FAQ


Is it possible to deposit in cash?

No. cash deposit is not allowed.

What is the effect of interest rate in the deposit account?

The change in rate will not have any impact on your existing deposit. However, new rate will be effective for newly     opened/renewed deposit accounts.

What are the service charges and fees applicable?

REFL does not charge any service fees for deposit related services.

Is it possible to renew the existing deposit account?

It is possible to renew the existing account as well as change the deposit scheme. The change will be effective with the current interest rate of that scheme.

How do I collect the monthly or quarterly interest?

You will be given post dated cheques (PDC) for the monthly or quarterly interest, which you can easily place at your bank at your convenience.

What is the maturity value of double money deposit account?

Your principal amount will double at maturity. However, the applicable AIT will be deducted from the maturity value.