Recurring Deposit


[a] A person in his/her own name or jointly with other person ;
[b] In the name of a minor by his or her legal or natural guardian ;
[c] In the name of Cooperative Society / Association or Institutions etc.

Recurring Deposits will not be opened in the name of any blind or/and illiterate person. Deposits under the scheme are accepted as monthly instalments for a minimum period of 24 (twenty four) months and maximum of 120 (one hundred twenty) months. Minimum stipulated monthly instalments shall be Rs.10/- or multiple of Rs.10/-. Term Loans are available against security of accumulated deposit under the scheme. Premature closure allowed. R.D. A/Cs are transferable from one branch to another branch. Nomination facility available. Penalty provisions applicable for delay in depositing monthly instalment as well as premature closure.

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