Recurring deposit

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Recurring deposit

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.

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.

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