- Account can be opened for minimum 1 year and maximum upto 10 years.
- Quarterly Compounding Interest payable on maturity.
- Minimum amount Rs. 100/- per month and maximum no limit .
- Pledging of security allowed.
- Prepayment penalty of 1% p.a. considering the period completed.
- Nomination facility available.
- Additional interest for senior citizens.
Any individual, Proprietory concern, partnership firm, limited company, HUF, AOP, LLP , Body of individuals, local authority, Trust can open recurring deposit accounts.
Open an account
- Individual account - ANNEXURE-A-INDIVIDUAL SAVING-CURRENT ACCOUNTS
- Society /Clubs /Association /Trus - ANNEXTURE-E-SOCIETY-ASSOCIATION-CLUBS-TRUST ACCOUNTS
- ANNEXURE -B-SOLE PROPRIETORSHIP ACCOUNTS
- ANNEXURE-C-PARTNERSHIP ACCOUNTS
- ANNEXURE-D-COMPANIES ACCOUNTS
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TDS will be deducted as per applicable Income Tax rule. At per the prevailing rule, TDS will be deducted if the aggregate of interest exceeds Rs.10000, unless Form 15G/ Form 15 H is submitted at the beginning of each financial year.