Recurring Deposit

  • Individuals (Single or Jointly), Minor By Guardian, Institutions, Co-op Societies, HUF can place deposit.
  • Quarterly Compounded interest payable on Maturity.
  • Period of Deposit is Minimum 1 year.
  • Minimum amount of Deposit –Rs 100/ And Maximum Amount of Deposit “ No Limit”.
  • Interest Calculation is based on Quarterly Method.
  • Premature withdrawal of Deposit is allowed with penalty of 1% in current interest rate.
  • For Senior citizen additional Interest rate is Applicable.
  • Pledging of Deposit is with additional 2% Interest Rate.
  • Documents Required as per KYC rules