Pay Security Deposit in Instalments

Opt-In for Security Deposit Instalments:

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All active consumers except consumers who have received new connection/undergone changeover/change of name within 3 months prior to the Annual Deposit review - Refer MERC Regulations 2021 Clause 13.1 & 13.2

1. Base Amount: Average of bill amount (Bill month Apr-21 to Mar-22).
2. Requisite Security Deposit would be = 2*(avg bill amount of Apr-21 to Mar-22) less existing available Security Deposit.
If 12 months data is not available for the sake of base amount calculation, the available no. of months will be taken for average calculation.
Any interest payable towards existing Security Deposit will be included in the existing Security Deposit balance, after deduction of applicable TDS. The balance Deposit amount payable by consumer would be reduced by this interest amount net of TDS deducted. (See Example Below).

Example Only

Security Deposit Payable (as per 2XMonthly average)	Rs.5000
Existing Security Deposit before interest adjustment	Rs.1000
Deposit interest (included in Existing Security Deposit)]	Rs.50
Existing Security Deposit available after adjusting Deposit interest	Rs.1050
Balance Security Deposit Payable	Rs.3950
Deposit Instalment payable as per 6 instalments	Rs.658
Due Date for payment of full amount/first instalment amount	30 days from Demand date

Consumers can opt for making the payment of the balance Security Deposit in upto 6 equal monthly instalments.
Security deposit can be paid in full /instalments at any of the Genius Pay outlets. Click here to know your nearest Genius Pay outlets.