Recurring Deposit
Invest and save in small amounts and meet your home travel and personal expenses by opening a recurring deposit account with us.
Key Features
- Deposit is accepted in fixed monthly installments
- Flexible tenure with minimum period of 12 months and maximum up to 120 months.
- Interest to be compounded on quarterly basis
- Facility of standing instructions is available
- Nomination facility
- Higher ROI for Senior Citizens
- Loans or Overdraft facility available against deposit up to 90%
- Deposit insured by the DICGC
- Premature withdrawal allowed with penalty of 0.50 %
Requirements
- KYC Documents as per RBI guidelines
Eligibility
- Individual (single/joint), Minor by guardian, Organizations
ROI w.e.f 01.08.2021
- Duration General Senior Citizen
- 12 months to 24 months 5.75 6.25
- Above 24 months and up to 36 months 5.75 6.25
- Above 36 months and up to 60 months 5.75 6.25
- Above 60 months and up to 120 months 6.00 6.50