I have a tax saving term deposit of 5-year period under 2006 scheme at SBI. Upon maturity, is the bank allowed to auto-renew the deposit without my consent?
https://www.icicibank.com/Personal-Banking/faq/detail.page?identifier=prod-tax-saving-fd-fixed-deposit-20131212152944651 specifies that this is not allowed as per "Government notification".
Also, refer to point 10. of https://www.onlinesbi.com/sbijava/osbi_etdr_itss_faq.H T M L
Thanks in advance.
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