Recurring Deposit

Recurring Deposit

A basic saving plan, which helps you regulate your savings and reap its benefits from time to time. Also avail up to 90% of the deposit amount by way of loan/overdraft.

  • Minimum amount required to open an account - Rs. 50/-
  • Subsequent deposits in multiples of - Rs. 50/-
  • Deposit Tenure:
    • Minimum - 6 months.
    • Maximum - 120 months.
  • Interest will be compounded quarterly and paid on maturity.
  •  On pre-matured withdrawal of your deposit amount, interest will be calculated at 1% below the rate applicable for the period of deposits.
  • Documents required:
    • Passport size photograph
    • Proof of residence
    • An introduction as per Bank's norms