Recurring Deposit

  • Period of deposit Minimum – 12 months, Maximum – 120 months
  • Available at all branches
  • Minimum deposit amount is Rs. 100/- per month (thereafter in multiples of Rs. 10/-)
  • Penalty is charged on delayed payment of instalments.
  • In case six consecutive instalments are not received, the account shall prematurely be closed, and balance paid to the account holder.
  • Customer while opening RD or anytime during the period of deposits should give maturity instructions as detailed below:
    • Credit Proceeds to Savings Bank / Current Account
    • Issue IOI
    • Issue STDR