Recurring Deposits

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

• Individual, Joint Accounts and Minors are eligible to open RD 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 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 Rs. 2453/- for 36 months will give Rs. 1 Lakh on maturity.