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 Days | 5.00% |
| 181 Days to 365 Days | 6.50% |
| Above 1 Year upto 2 Years | 7.50% |
| Above 2 years upto 5 Years | 8.50% |
| Above 5 years Up to 10 Years | 6.50% |
0.50% extra for SENIOR CITIZENS (60 Years and above) for the deposits of One year and above.
