Open Recurring Deposit Account

A reliable monthly investment tool to plan for your future financial needs.

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Period of Deposit	Minimum 1 year and maximum 10 years
Interest Payment Method	Quarterly Compounded Interest payable on maturity
Maximum Amount of Deposit	No Limit
Minimum Amount of Deposit	Rs. 100/- per month
Pledging of Deposit	Allowed
Premature Withdrawal	Allowed. However, interest shall be paid at the rate applicable for the period for which the deposit remained with the bank or at the contracted rate whichever is less and such payable interest rate shall also be subject to penalty at 1%.
Additional Interest Rate for Senior Citizen	Applicable
Eligible Depositors	All depositors

Deposit Insurance

The Deposit Insurance System in India is subject to the Provisions of Deposit Insurance Act (enacted in 1961). Deposit Insurance and Credit Guarantee Corporation (Wholly owned subsidiary of the Reserve Bank of India) is the body that operates the deposit insurance system.

To download more information click the following link : DICGC
(Website : www.dicgc.org.in )

For opening a Recurring Deposit, please download the below listed form and submit it to your nearest branch.

Open Recurring Deposit Account

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