Recurring Deposit Account

What are recurring deposit accounts?
The Recurring deposit account is an account in the bank where an investor deposits a fixed amount of money every month for a fixed tenure (mostly ranging from one year to five years). This scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years. The small monthly savings in the Recurring Deposit scheme enable the depositor to accumulate a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis.

In this scheme enables an investor to deposit a specific amount of money on monthly basis and after the specified period of time he/she/they can enjoy on attractive returns on his/her/there investment. Under this scheme the minimum amount of investment starts from Rs. 100/-

Investment Period Interest Rate (General Class) Interest Rate (Senior Citizen)
25 Months to 3 Years 10.00% 10.50%
3 Years to 4 Years 10.50% 11.00%
4 Years to further 11.00% 11.50%
*Please Note:
  1. If you withdraw your money before completing investment locking period then you will get your money with 2% less interest.
  2. If you won't deposit your EMI amount in recurring account as per monthly basis then orgnisation will levy fine the amount equal to your interest.
  3. If you will not deposit your EMI amount for contineusly six month in recurring account then organisation will close the account.
  4. You will start invest your money in range of hundred.
  5. You will get your money with interests after 1 month of end of investment locking period.
*Terms and Conditions Apply.
Documents Required
Types Documents
Photo Identification Election Identity Card / S.T. Discount Identity Card / PAN Card / Office Identity Card
Residential Proof Light Bill / Ration Card / Aadhar Card / Telephon Bill
*Terms and Conditions Apply.
About Scheme
  1. Person should be member of organisation for opening a account or Paid Rs. 10 for entry fee.
  2. Person's age should have 18 years completed. If person's age is less than 18 years then take a signature of guardian.
  3. At the account opening time account holder whether literate or illiterate, but reference person should be old account holder of organisation.
  4. In this scheme, you will invest your money for 30,36,48 and 60 months.
  5. In this scheme, you will get a 80% amount of invested amount as a loan amount on 15 % interest.
  6. Account will be opened after confirmation of branch manager
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