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