What is Recurring Deposit?

Recurring Deposit Scheme Commonly known as RDs is a unique term deposit, is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after one to five years. The scheme, a systematic way for long term savings, is one of the best investment option for the low income groups.

Why Recurring Deposit with Us?

The minimum investment in our bank Recurring Deposit Account is Rs 100/-. The upper limit for investment is Rs. 1000/-. Anyone can open this account in their personal name. Two or more individuals can open combine account. The bank will provide passbook to depositor and depositor have to take passbook when they come for deposit monthly instalment or close account. The bank doesn’t take any commission on monthly instalment deposit from depositor.