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  • Attractive Rate of Interest.
  • Monthly installments.
  • Upto 90% loan facility available.
  • Special Rate for Senior Citizens.
Amount 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)
Nomination Facility Available
Loan Facility Available upto 90% of the available deposit balance
TAX Deducted at Source Applicable as per prevailing Income Tax rules
  • Individual, Joint Account, Guardian on behalf of minor, HUF, Proprietorship firm, a Company, An association, a trust, an institution.
  • Application in the Banks’ prescribed form.
  • Copy of PAN Card / Form 60 or 61 (if customer does not have PAN Card).
  • Photograph of Depositor/s (2 copies).
  • Proof of Identity and address as per KYC Norms.
  • Any other related documents as applicable to proprietor ship concern, Partnership Firm, Company, HUF etc.
  • As applicable to term deposits of various tenures prevailing from time to time, Interest compounded quarterly. Click Here.
Special Rate for Senior Citizen 0.50% over & above the rate applicable to general public.
Penalty for Premature Closure A penalty of 1.00% will be levied for premature closure of Recurring Deposits that are opened on or after 04.02.2011. Such prematurely closed Recurring Deposits will earn interest at 1.00% below the interest rate as ruling on the date of deposit and as applicable for the period run.
Penalty for Delayed Instalments
  • @ of Rs. 1.50 for every Rs. 100/- instalment per month, in the case of RD accounts for five years and @ of Rs. 2/- for every Rs. 100/- instalment per month in the case of RD accounts for above five years should be collected.
  • If there is delay in remittance of more than four instalments, the RD Account is to be repaid at Simple Interest on monthly product basis.(Not applicable for RD account opened w.e.f. 01.04.2020)
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Last updated on 25-08-2023 02:46 PM

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