Introduction

Flexi Recurring Deposits scheme has been designated to cater to the needs of persons with fluctuating income .

Deposit Amount

The minimum amount of monthly deposit is Rs.100/- or more in multiple thereof.

Interest

the depositor has to choose a core monthly instalment with a minimum Rs.100/- or above in its multiples.  The monthly instalment during the tenure of the deposit account shall not exceed in any month, ten times of such core amount,

Penalty

Penalty for late payment of instalments is charged at the     Rs.2.00 per Rs.100/- per month.

Advance against Recurring Deposits

Advance upto 75% to 90% of the deposit is allowed on the security of these Deposits. Interest 1% over deposit rate is charged on loan.