Recurring Deposit Scheme
A reliable monthly investment tool to plan for your future financial needs.
| Period of Deposit | Minimum 1 year and maximum 10 years |
| Interest Payment | Quarterly Compounding Interest payable on maturity |
| Maximum Amount of Deposit | No Limit |
| Minimum Amount of Deposit | Rs. 100/- per month |
| Pledging of Deposit | Allowed |
| Premature Withdrawal | Allowed with penalty of 1% in applicable interest rate for the tenure of deposit as on the date of placement of deposit. |
| Additional Interest Rate for Senior Citizen | Applicable |
| Eligible Depositors | All depositors |
Deposit Insurance
The Deposit Insurance System in India is subject to the Provisions of Deposit Insurance Act (enacted in 1961). Deposit Insurance and Credit Guarantee Corporation (Wholly owned subsidiary of the Reserve Bank of India) is the body that operates the deposit insurance system.
For opening a Recurring Deposit, please Contact your nearest branch
