• Sign In/Sign Up
  • Menu
  • +Clients Back

    • Get Free Legal Answers
    • Get Fee Estimates
    • Find Lawyers
  • +Lawyers

    • Case Diary & Office Manager
    • Post News & Artilces
    • Post Jobs & Internships
  • +Law Students

    • Campus Ambassadors
    • Find Jobs & Internships
    • Post News & Articles
    • Resource Sharing
  • +Law Schools

    • Post Admissions
    • Post Opportunities
    • Get Law School Rating
  • Home
  • Deeds & Drafts / Letter-from-Depositors-for-advances-against-Recurring-Deposit-Account-balance

Deeds & Drafts

Letter from Depositors for advances against Recurring Deposit Account balance

_______________ Bank,

_______________ Branch.

Date:

 

Dear Sir,

In consideration of your allowing/having agreed to allow me/us an advance of Rs. ______________ on Pronote Account/to the extent of Rs.__________ outstanding at anyone time, in Overdraft Account and of further advances which you may, at your discretion, make to me/us later, against security of the balance, viz. Rs. ___________, standing at my/our credit in the Recurring Deposit Account No._________ for _________ months with you, I/we hereby give you a lien over my/our said credit balance in the Recurring Deposit Account No.___________ and hand my/our relative Pass Book to be held by you, till all my/our dues to the Bank are repaid. In the event of my/our failing on demand (such demand being made in a letter to me/us and sent by registered post to my/our address as given above/recorded with you), to repay the said sum, with interest thereon at the rate of ______ % per annum with monthly rests, or whatever amount may be due and owing by me/us according to the books of the Bank, I/we hereby give you irrevocable authority to appropriate, at your discretion and without reference to me/us, the amount standing to the credit of my/our said Recurring Deposit Account No._______ with you in adjustment of the amount due and owing by me/us to the Bank. Further, this authority would operate irrespective of whether the said Recurring Deposit has matured for payment or not at the time when adjustment, as aforesaid, is made.

I/We further declare that I/we have not encumbered, assigned or otherwise dealt with the said Recurring Deposit Account in any way.

Yours faithfully,

 

 


86540

Lawyers Network

103860

Users

630

Cities Serving

114

Law Schools Network

59824

Law Students Network

About us

  • Company Profile

Indian Major Laws

  • Indian Constitution
  • IPC
  • CrPC
  • CPC
  • Companies Act
  • Indian Evidence Act
  • CGST Act
  • Limitation Act

Policies

  • Terms of Use
  • Privacy Policy
  • Refund & Cancellation

    Ads & Media

  • Resource Sharing
  • Advertiser(Sign Up/Login)
  • Media

    Careers

  • Internships
  • Jobs
  • Student Journalists

    HELP & SUPPORT

  • Contact Us
  • Grievances
  • Test

News

  • Legal News
  • Post Article
  • Post Interview

Legal Library

  • Central Acts
  • Deeds Drafts [1128 ]
  • Legal Maxims

Connect

Lawsisto Direct

 

  •  
  •  
DISCLAIMER
Copyright © Lawsisto Private Limited. All rights reserved.
Unless otherwise indicated, all materials on these pages are copyrighted by Lawsisto Private Limited. All rights reserved. No part of these pages, either text or image may
be used for any purpose. By continuing past this page, you agree to our Terms of Service, Cookie Policy, Privacy Policy and Content Policies.