Recurring Deposits

RECURRING DEPOSIT

Recurring Deposit is a product to provide a person with an opportunity to build up saving through regular monthly deposits of fixed sum over a period.

·        Period of Deposit can be from 1 year to 5 years.

·        Account can be opened in the name of an individual or more than one individual jointly

·        Rate of interest as applicable to Term Deposits Click here for interest rates

·        Additional interest rate of 0.50% available for senior citizens

·        Available at all branches

·        Instalments can be paid at any branch

·        Nomination available

·        Passbook for keeping track of your transactions

·        Premature closing facility

·        Penalty charges for non-deposit of monthly instalments

·        Loans up to 85% of the deposit amount

Click here for account opening form