Recurring Deposit

Recurring Deposits

(Interest,  Monthly , Quarterly , Half Yearly, Yearly)

Eligibility:
Individuals (singly or jointly), Minor by a guardian, Organizations, Co-op. Societies.

Minimum Balance:
Rs. 1000/- and further rise in multiples of Rs. 100/-

Charges / Penalty:
1% less for Pre Closure charges applicable for before maturity

Rate of Interest on Recurring Deposits

Period Rate of Interest
31 Days to 180 Days5.50%
181 Days to 365 Days7.00%
Above 1 Year upto 2 Years8.00%
Above 2 years upto 5 Years9.00%
Above 5 years Up to 10 Years7.00%

0.50% extra for SENIOR CITIZENS (60 Years and above) for the deposits of One year and above.