Furthermore, the company has also withdrawn renewal facility from its FD schemes. Facility to prematurely withdraw FD has been halted too. However, in case of medical or financial emergencies, such premature withdrawals shall be allowed, provided written proof of the same is produced.
The announcement has been made to recuperate from liquidity crunch the company is facing from quite some time now. Since fresh deposits are not being accepted, it is not feasible for the company to redeem deposits prematurely. Therefore to reinforce efficient liability management, DHFL has come up with the said revisions.
Up till now the company was offering term deposits ranging from 12 months to 120 months with interest rates touching 9.25%.