Recurring Deposits

Details

The Recurring Deposit account is an account in the bank where an investor deposits a fixed amount of money every month for a fixed tenure (mostly ranging from one year to five years). This scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years. The small monthly savings in the Recurring Deposit scheme enable the depositor to accumulate a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis. The account can be opened by individuals.

Features of RECURRING DEPOSIT



Recurring Deposit Features & Benefits

  • The Recurring deposit account is an account in the bank where an investor deposits a fixed amount of money every month for a fixed tenure.
  • Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.
  • Recurring deposit scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years.
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Terms & Conditions

  • It is mandatory to be a member in the company.
  • Interest will be calculated on yearly basis.
  • Irregular deposits are not entitled for pre mature payment and loan facility against it.
  • On irregular deposits if all irregular pending deposits are paid then such account will be treated as regular. Even if there is default in payment of 1 instalment, the said account will be treated as irregular.
  • R.D. will not be premature within first 3 month.
  • After depositing the premium of 6 months, any type of interest will not be given.
  • If any person premature it’s FD/RD the person will get the interest of saving a/c interest.
  • In case of death of a depositor, the company will repay to nominee or beneficiary the principal & interest, at which it was accepted.
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शुरू करें अपनी मासिक
बचत लक्ष्य

मात्र 3000 से
और पायें ₹ 2.50 लाख
(5 वर्षो में)

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