Recurring Deposits
“Save in dribbles - receive a lump sum.” Suitable for Tax planning, Annual payment commitments like Insurance premium, long-term requirements like purchase of consumer articles/ durables, house construction, children's education etc.
Salient Features
• Minimum deposit amount is Rs. 5/- or multiples thereof with no. Ceiling for the maximum deposit amount. • Deposit period ranges from 12 months to 120 months, Monthly installments will be repaid on maturity along with the accrued interest. • Individual Deposit/ Joint Deposit / Deposit in the name of Minors can be made. • Loan facility/ Nomination facility available.