Recurring Deposit

  1. Individual in personal capacity can open.

  2. Individuals in joint names can open.

  3. A minor with natural guardian can open.

  4. Application form necessary.

  5. Rate of interest as applicable to F.D rates.

  6. Minimum deposit amount Rs.100 and in multiples of Rs.100.

  7. Minimum Period 6 months.

  8. Loan and nomination facility.

  9. Facility of pre-mature payment.

  10. TDS applicable on interest over Rs.10,000/- per year.

  11. Monthly deposit of instalments.

  12. Monthly instalments can be transferred from Savings Bank / Current Account.