Introduction

Recurring Deposit Scheme is most suitable for accumulating small regular saving into a handsome amount to provide for future expenditure requirement.

Deposit Amount

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

Interest

The rate of interest is as applicable to Term Deposits.

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.