RECURRING DEPOSITS
ELIGIBILITY
Individual, Joint Account, Guardian on behalf of minor, HUF, Proprietorship firm, a Company, An association, a trust, an institution
PATTERN OF DEPOSIT
Minimum Rs.50/- per month (and in multiples thereof) No ceiling on maximum amount A fixed amount by way of monthly instalments deposited over a stipulated period.
PERIOD OF DEPOSIT
Minimum 6 months & Maximum 120 months (multiples of 3 months)
INTEREST RATE
As applicable to term deposits of various tenures prevailing from time to time, compounded quarterly.
INTEREST APPLICATION
Calender quarterly ie., quarterly compounding
SPECIAL RATE FOR SENIOR CITIZEN
Not applicable
TDS
Exempted
NOMINATION FACILITY
Available
LOAN FACILITY
Available upto 90% of the available deposit balance
PENALTY FOR PRE-MATURE CLOSURE
Interest is paid at the rate applicable for the period run with out penal cut on deposit accounts closed prematurely.
APPLICATION AND DOCUMENTS
Application Form Form 60 or 61 (if customer does not have PAN Card) Photograph of depositor/s (2 copies) Proof of address as per KYC Norms Any other related documents as applicable to proprietor ship concern, Partnership Firm, Company, HUF etc
