What is Recurring Deposit ?

Recurring Deposit scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after one to five years. The scheme, a systematic way for long term savings, is one of the best investment option for the low income groups.

Why Recurring Deposit with Us?

The minimum investment in our bank Recurring Deposit Account is Rs 100/- and then in multiples of Rs. 50/-. Anyone can open this account in their personal name. Two or more individuals can open combine account. The bank will provide passbook to depositor and depositor have to take passbook when they come for deposit monthly installment or close account. The bank do not take any commission on monthly installment deposit from depositor.

The object of recurring deposits is to provide an opportunity to build up savings through regular monthly deposits of fixed sum over a fixed period of time.Whatever your financial goals you can aim to achieve them with our Recurring Deposit Accounts.Set aside a small amount every month and earn interest on the whole amount.

Pass book issued for a record of all transactions.Premature withdrawal of accumulated amount permitted as per bank rules.Accounts can be opened in single or joint names. Monthly Installment Scheme Saving on monthly basis Attractive interest rates Bigger amount on Maturity Choices of 12 to 120 Months

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Resident Indian Required Documents (Common Documents checklist for all Accounts)

Passport Size Photograph of Applicant

Eligibility :

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Passport Size Photograph of Applicant