Recurring Deposit is a monthly Scheme. Customer can Open Recurring A/c with minimum of Rs.100/- per month and in count of Rs. 100/- thereafter i.e. Rs.100/-, Rs.200/-, Rs. 300/- etc.
Customers can open Recurring account for 12, 24 and up to 60 Months.
We offer nomination facility for all deposit accounts.
We offer 0.75% extra Interest Rate to Super Senior Citizens (Age 75 or above) on fixed deposits.
We are member of Deposit Insurance and Credit Guarantee Scheme in which customers deposit are insured up to Rs. 1 Lac.
Rules & Regulation for Recurring Deposit
Depositor has to fulfill KYC norms as per RBI directives.
Customer can Open Fixed Deposit A/c with minimum of Rs.1000/-
Guardian can open Minor Fixed Deposit A/c. When minor turn major then after providing valid age proof he/she can withdraw the amount with his/her signature.
In the case of premature withdrawal of deposit the Applicable rate of interest minus 1% penalty will be imposed.
Applicable rate of Interest: Means the lower of interest rate between the existing rate of interest for which the deposit remains with the bank OR the prevailing rate of interest for which the deposit remains with the bank.
All rights reserved to the Bank management to Change the Interest Rate of the Fixed Deposit Scheme without prior notice. Change of Interest rate will be applicable to new deposits only.
The Bank having the rights of appropriation, set off of lien deposits on maturity.