Recurring Deposit

An ideal scheme of monthly savings for salaried people, businessmen, professionals etc. Small amounts saved every month for a long period come in handy to meet large financial commitments in the future.

1. Highlights

(a) Minimum deposit is Rs. 100 per month.
(a) Period of deposit ranges from 12 months to 10 years.
(b) Delayed payment of installments are accepted with nominal interest.
(c) Monthly minimum balance in the account earns compound interest every quarter.
(d) No tax is deducted from the interest on the deposit.
(e) Nomination facility available.
(f) The rates of interest are as fixed by the Bank from time to time.
(g) Premature Payment of Term Deposits- Interest to be paid on premature withdrawal of term deposits at 1.00{3f6fc27b7d854a6d11d1a3aff0be80f521428168aac3c68744a82bcc1a5c181a} below the rate applicable for the period deposit has remained with the Bank.

* Conditions Apply