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Recurring Deposit

Recurring Deposit
Recurring deposit accounts can be opened either with rupees hundred or its multiples. Maximum tenure of this account is 10 years. The customers can opt for auto debit of installments from their saving or current account.
In case money is needed before maturity of the deposit, advance up to 90% of the deposit made may be taken. The facility of nomination is also available.

S.NoTermROI (General)ROI (Senior Citizen)
1 1 Year to 2 Years7.25%7.75%
2 Above 2 Years Up to 3 Years7.50%8.00%
3 Above 3 Years Up to 5 Years7.05%7.55%
4 Above 5 Years Up to 10 Years6.40%7.15%

  • Key Features 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 up to 90% of the deposit
  • Deposit insured by DICGC Scheme
  • Premature withdrawal allowed with term and conditions
  • Requirements
  • KYC Documents as per RBI guidelines
  • Eligibility
  • Individual (single/joint), Minor by guardian, Organizations
  • ROI
  • As per above

Note: For more detailed information, terms and conditions, kindly contact your nearest branch.