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Recurring Deposits

Features

  • 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.

Eligibility

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

Interest Rate

View Interest Rate Click Here

TDS

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.