Section 11(2) in The National Housing Bank (Tax Saving) Term Deposit Scheme, 2008
(2)No term deposit shall be encashed before the expiry of five years from the date of its receipt. Provided however that in the event of the death of the first holder of the deposit in case of a joint-holder type deposit, the other holder of the deposit shall be entitled to encash the term deposit before its maturity by making an application to the National Housing Bank supported by proof of the death of the first holder of the deposit.
