Recurring Deposits

Recurring Deposit is a kind of Term Deposit, wherein customer can park fixed amount every month in RD (Recurring Deposits) account over a period of time. Standing instruction facility is available.

Individual, Joint Accounts and Minors are eligible to open RD(Recurring Deposits) account.
Minimum period 13 months.
Minimum Deposit Amount Rs. 100/-.
Nomination facility is available.
Passbooks are issued.
Loan facility is available up to 90% of available balance in RD(Recurring Deposits) account
Pre-mature withdrawal is allowed and penalty applicable as per the rule.
Penalty charges will be applicable in case default in monthly installment.
TDS will be applicable on the interest earned as per the prevailing rate.
Monthly installment of ₹ 2531/- for 36 months will give Rs. 1 Lakh on maturity.

https://www.janasevabankpune.net/Encyc/2022/8/3/Recurring-Deposits.html