Recurring Deposit

Eligibility

• An Individual, firm, partner & company, can open recurring deposit account.
• Even a minor can open Recurring deposit account with us.
• It is ideal for Doctors, Engineers, Businessmen, students, household women etc.

Amount of Deposit

• Monthly installment with a minimum Rs.50/- and in multiples of Rs.10/- thereafter.

Period of Deposit

• Minimum 6 months to maximum 120 months.

Mode of Payment

• By deposit of cash
• By transfer from SB, CA account by issuing S.I.

Interest Rates & Charges

• Attractive rate of interest paid on deposit as decided by the bank from time to time on maturity patterns.
• Penalty for late payment of monthly installments.

Features & Benefits

• NO TDS.
• Loan facility is available Upto 80% of deposit amount.
• Nomination facility is available.
• Account can be transferred from one branch to another branch.