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Accounts & Deposit > Term Deposit > Motor Accident Claims Annuity Deposit (MACAD)
Motor Accident Claim Annuity Deposit (MACAD) is a specialised scheme that allows investors to claim one-time lump sum amount, as decided by the Court / Tribunal, deposited to receive the same in annuities comprising a part of the principal amount as well as interest.
This scheme serves to credit the compensation amount awarded by a Tribunal/Court to victims/claimants of motor accident and repayment of the same in monthly annuity instalment comprising part of the principal amount plus interest.
Nomination facility is available and shall be duly nominated as directed by the court.
